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 email@example.com
Simon Xu (Shanghai Redstar Pacific) +86 1377 441 0953 firstname.lastname@example.org
Investor Contact: Andrew Greenbaum / Laura Bainbridge (RealD) 310-829-5400 Investors@reald.com
SOURCE RealD Inc.