RealD and Broadway Circuit Extend Deal for 7 Additional LUXE Auditoriums
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-- Through New Deal Broadway Will have a total of 10 Premium Large Format Auditoriums under the LUXE brand --
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HONG KONG and LOS ANGELES, Dec. 8, 2015 /PRNewswire/ -- Global 3D and visual technology licensor RealD Inc. (NYSE: RLD) and leading Hong Kong and Chinese theatrical exhibitor Broadway Circuit announced today an extended agreement to install 7 new "LUXE: A RealD Experience" (LUXE) auditoriums in Broadway's cinema locations in mainland China. Introduced by RealD as a Premium Large Format (PLF) initiative, the additional 7 LUXE auditoriums will be installed at Broadway locations in 6 cities across mainland China, including Guangzhou, Shanghai, Dalian, Hangzhou and Wuhan. Some of the 7 locations are expected to open in the first quarter of 2016. All 7 LUXE auditoriums will feature state-of-the-art RealD 3D projection systems and RealD Precision White Screens.
RealD and Broadway in 2014 signed an agreement to install three LUXE auditoriums in Tianjian, Chengdu and Guanzhou of mainland China. With the extended agreement to add 7 new LUXE auditoriums, there will be a total of 10 LUXE theaters in Broadway's cinema locations in China.
"We are pleased to partner with RealD again to jointly provide our audiences with the most visually thrilling premium movie experience on the market today," said Tessa Lau, CEO of Broadway Circuit. "The box office performance at our initial two LUXE auditoriums in operation proved that moviegoers welcomed and preferred the new premium cinema settings we provided, and we look forward to offering our customers more LUXE auditoriums."
"We are honored to have worked with Broadway in bringing consumers the initial LUXE auditoriums in Tianjian and Chengdu in which quality 2D and 3D visuals, audio and seating have combined to provide the ultimate moviegoing entertainment experience," said Edman Chan, Vice President and General Manager, Cinema, Asia Pacific of RealD. "Together with Broadway Cinemas, RealD will endeavor to bring such premium experiences to more audiences throughout China."
"LUXE: A RealD Experience" is the Premium Large Format (PLF) initiative introduced by RealD in 2013 with the aim of unifying the exhibition community under a single brand with a goal of becoming synonymous with the ultimate out of home entertainment experience. All LUXE auditoriums feature massive screens, ultra bright 2D and 3D, enveloping audio and luxury seating for an unsurpassed level of quality and comfort in premium moviegoing.
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 designated 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 patrons' 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; and Tokyo, Japan. For more information, please visit our website at www.reald.com.
About Broadway Theatre Company Limited
Broadway Theatre Company Limited is established in 1950s and has gradually developed to nowadays the largest cinema circuit in Hong Kong and a leading brand in China. Broadway circuit in Hong Kong provides 12 cinemas 62 screens with over 1,000 comfortable seats, having the largest market shares of 40%. Broadway started the first cinema in China since 2000 in Beijing, then spread out to Shanghai, Hangzhou, Shenzhen, Wuhan, Kunming, Chengdu, Qingdao, Tangshan, Jinan, and Wuxi cities to provide a presence of 24 cinemas and 153 screens of which 6 are in Premium Large Format. Broadway Circuit comprises three brands in China, including the stylish quality "Broadway", the luxury elegance "PALACE" and modern classic "Premiere". Each cinema comes with a different design feature, and is equipped with advanced digital cinema equipments, offering audiences almost the perfect visual and audio enjoyment. The circuit is operated by her parent company, the Edko Films Limited. Edko is a full-scope independent company, apart from theaters operation, it also produces and distributes films, develops movie promotions and operates paid TV Movie channel.
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 the Broadway Circuit 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 may 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.
For more information please contact:
Media Contacts:Steve ElzerElzer & Associates on behalf of RealD(213) 607-3591
Investor Contact:Andrew Greenbaum / Laura Bainbridge (RealD)310-829-5400 [email protected]
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/reald-and-broadway-circuit-extend-deal-for-7-additional-luxe-auditoriums-300189845.html
SOURCE RealD Inc.
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