HONG KONG and LOS ANGELES, Dec. 7, 2016 /PRNewswire/ -- Global 3D and visual technology company RealD Inc. and Shanghai Redstar Macalline Pictures Development Co. Ltd. announced an agreement to add another 11 "LUXE: A RealD Experience" auditoriums under its Redstar Macalline Cinemas. As a result, Redstar Macalline Cinemas will be building a total of 15 LUXE auditoriums over the next three years. Redstar Macalline will also install 100 RealD 3D systems during the next three years.
The signing of the agreement marks the continued collaboration between RealD and Redstar Macalline. In December, 2015, RealD and Redstar Macalline signed an agreement for the first time to build four ultra premium LUXE auditoriums across China. Since that announcement, two of the initial LUXE auditoriums have been opened by Redstar, one in Beijing and the other in Chongqing. The remaining two LUXE auditoriums are scheduled to be completed in Kunming and Shanghai by the third quarter of 2017. In addition, construction planning is underway for three LUXE locations, in Fuzhou, Kunming and Tianjin, have started their construction plans.
"In the past year, we have worked closely and collaboratively with RealD to finish the building and branding of our first two LUXE auditoriums. Judging from the attendance and superior box office returns at the two LUXE theaters in Beijing and Chongqing, we are very pleased with their appeal and operational performance. Audiences are choosing LUXE for the better visual experiences," said Simon Xu, General Manager of Shanghai Redstar Pacific. "We believe that the continued development of LUXE auditoriums is addressing the preferences of our moviegoers and is a strategic component of our cinema business."
As of November 25, 2016, there were 11 LUXE auditoriums in operation in 10 major cities in mainland China and the number of LUXE theaters will reach 17 by the end of 2016. Based on the committed Luxe plans, by the end of 2017 there will be at least 33 LUXE equipped auditoriums operating within the next three years across China.
"It is RealD's mission to perfect the visual experience and with the development of LUXE: A RealD Experience, we are able to elevate both 2D and 3D images and the movie experience as a whole. We are honored to offer the Chinese audience the very best in state-of-the-art movie-going and an ultra-premium experience," said Edman Chan, RealD Vice President and General Manager, Asia Pacific. "With the continued partnership with Redstar Pacific, we will continue to bring advanced technology to its cinemas and we believe audiences truly appreciate the opportunity to experience movies with the best available presentation in the industry."
"LUXE: A RealD Experience" is the Premium Large Format (PLF) initiative introduced by RealD in 2013. All LUXE auditoriums will meet designated technology specifications to assure an ultra 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 a screen size of at least 16 meters in width; enveloping sound; auditorium rakes to optimize patron's views and more.
The world's most widely used 3D cinema technology, RealD 3D is installed in more than 28,500 auditoriums by approximately 1,200 exhibitors in 72 countries around the world (as of Sept 30, 2016).
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 has offices in Beverly Hills, Boulder, London, Moscow, Shanghai, Beijing, Hong Kong and Tokyo. For more information, please visit our website at www.reald.com.
About Redstar Macalline Picture Development Corporation
Shanghai Redstar Macalline Pictures Development Co. Ltd. is a vertically integrated motion pictures development platform established by Shanghai Redstar Macalline Investment Co. Ltd. Since its foundation in 2013, Redstar Macalline Pictures has developed cinemas in major cities across China including Beijing, Chongqing, Fuzhou, Kunming, Lanzhou and Tianjin. Its mid-term development strategy is to invest RMB450 million on building 20 cinemas, with the goal to gain annual box office of RMB500 million and annual total income of RMB600 million.
For long-term strategy, it aims to invest RMB2 billion on building 100 cinemas, with the goal to gain an annual box office of RMB2.5 billion and annual total income of RMB3 billion.
With a corporate philosophy of being young, technological and high quality, Redstar Macalline seeks strategic partners with international business potentials. Its mission is to become the most influential cinema, cinema circuit and film distribution group in China, so as to re-create and re-define new ways of entertainment consumption. It also aims to become China's top-ranked integrated film group in the next 5 years.
Steve Elzer (Elzer & Associates on behalf of RealD)
Simon Xu (Shanghai Redstar Pacific)
+86 1377 441 0953
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