HONG KONG and LOS ANGELES, Dec. 9,
2015 /PRNewswire/ -- Global 3D and visual technology company
RealD Inc. (NYSE: RLD) and Shanghai Redstar Pacific Pictures
Investment Co. Ltd. announced an agreement to install 4 "LUXE: A
RealD Experience" auditoriums. Introduced by RealD as a
Premium Large Format (PLF) initiative, the 4 LUXE auditoriums will
be installed at Shanghai Redstar Pacific's cinema locations in
Beijing, Shanghai, Chongqing and Kunming. The Beijing
location, which is currently in operation, is expected to open the
added LUXE screen in the first quarter of 2016. "LUXE: A RealD
Experience" is the Premium Large Format (PLF) initiative introduced
by RealD in 2013 with the aim of providing a higher quality image,
audio and overall viewing experience for moviegoers. Each LUXE
auditorium will feature RealD 3D projection and a RealD Precision
White Screen.
Besides LUXE auditoriums, Shanghai Redstar Pacific will also
install RealD 3D systems in all of its 3D auditoriums.
"We have been looking for a suitable brand for our Premium Large
Format auditoriums and I think RealD's LUXE screens are a perfect
fit," said Simon Xu, Vice General
Manager of Shanghai Redstar Pacific. "RealD's technology will offer
a superior visual experience for both 2D and 3D movies. We
look forward to the completion of the four projects."
"We are honored to collaborate with Shanghai Redstar Pacific to
have the opportunity to introduce a premium movie-going experience
to its audience," said Edman Chan,
Vice President and General Manager, Asia
Pacific of RealD. "RealD has always been committed to
delivering the best possible viewing experience for moviegoers and
we are excited to work with Shanghai Redstar Pacific to bring this
exceptional viewing experience to theaters throughout Asia.
The LUXE auditoriums in Redstar Pacific marks further
development of the LUXE brand in Asia. Since the first LUXE
deal signed in late 2014, RealD has further reached agreements to
install a total of 15 LUXE auditoriums in mainland China, two of which has been in operation.
LUXE made its world premiere in Russia, where 11 LUXE auditoriums are
currently open and 18 projects have been signed. There is also a
LUXE auditorium open in Bulgaria.
LUXE auditoriums will provide full flexibility with content,
allowing exhibitors to show any movie at any time for optimized
profitability. All LUXE auditoriums will meet minimum technology
specifications to assure a premium cinema experience, such as:
usage of RealD 3D, the industry's brightest 3D projection
technology; wall-to-wall / floor-to-ceiling screens using RealD
Precision White Screen technology, with screen size of at least 16
meters in width; enveloping sound; auditorium rakes to optimize
patron's views and more. Additional exclusive new technologies to
be announced are expected to be incorporated into LUXE
auditoriums.
The world's most widely used 3D cinema technology, RealD 3D is
installed in more than 27,000 auditoriums by approximately 1,200
exhibitors in 72 countries around the world (as of September 30, 2015).
About RealD Inc.
RealD is a leading global licensor of 3D and other visual
technologies. RealD is the world's most widely used 3D
technology and our extensive intellectual property portfolio is
used in applications and products that enable a premium viewing
experience in the theatre, the home and elsewhere.
RealD was founded in 2003 and has offices in Beverly Hills, California; Boulder, Colorado; London, United Kingdom; Moscow, Russia; Shanghai, China; Hong Kong; Tokyo,
Japan; and Rio de Janeiro,
Brazil. For more information, please visit our website at
www.reald.com.
About Redstar Pacific Picture Investment Corporation
Shanghai Redstar Pacific Pictures Investment Co. Ltd. is a joint
venture between Shanghai Redstar Macalline Group and Sichuan
Province Film Corporation, established in 2013, mainly engaged in
investing and operating multiplex cinemas across China.
Shanghai Redstar Macalline Group owns Redstar International
Plaza and Aegean Shopping Mall. Both locations have been
well-known in the industry by offering consumers new shopping and
entertainment experiences.
Sichuan Province Film Corporation is a subsidiary company of
Emei Film Group. Established in 1954, Sichuan Film Corporation is a
film distribution and exhibition company well-respected in the
industry, owning Pacific Cinema Circuit, which is the top 10 cinema
circuit in China.
The first cinema under Shanghai Redstar Pacific Pictures
Investment, Beijing Redstar Pacific Cinema, was established in 2014
in the Aegean Shopping Mall. In 2015, Shanghai Redstar
Pacific opened cinemas in Kunming, Fuzhou, Tianjin and Lanzhou city.
Shanghai Redstar Pacific plans to build 10 cinemas by the end of
2017, including a cinema in Chongqing, Shanghai and Chengdu, plus two cinemas in Kunming. By the
end of 2020, Redstar Pacific plans to own 100 cinema locations,
with the box office revenue estimated to reach RMB3 billion, accounting for 5% of national box
office revenue.
Cautionary note on forward-looking statements
This press release includes forward-looking information and
statements, including but not limited to: statements concerning the
anticipated rollout of "LUXE: A RealD Experience" auditoriums
across Shanghai Redstar Pacific Pictures Investment Corporation and
the growth of the 3D cinema industry. These statements are based on
RealD's current expectations and beliefs, as well as a number of
assumptions concerning future events. Such forward- looking
statements are subject to known and unknown risks, uncertainties,
assumptions and other important factors, many of which are outside
RealD's control that could cause actual results to differ
materially from the results discussed in the forward-looking
statements. RealD's annual and quarterly reports include a more
detailed discussion of the risks and uncertainties that could cause
actual results to differ materially from the results discussed in
the forward-looking statements.
RealD undertakes no obligation to update publicly the
information contained in this press release, or any forward-looking
statements, to reflect new information, events or circumstances
after the date they were made, or to reflect the occurrence of
unanticipated events.
Media Contacts:
Steve
Elzer (Elzer & Associates on behalf of RealD)
213-607-3591
steve@elzerassociates.com
Simon Xu (Shanghai Redstar
Pacific)
+86 1377 441 0953
xuhaihong@chinaredstar.cn
Investor Contact:
Andrew Greenbaum / Laura
Bainbridge (RealD)
310-829-5400
Investors@reald.com
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SOURCE RealD Inc.