Global 3D and visual technology licensor RealD Inc. (NYSE: RLD) and UME International Cineplex announced today an agreement to install RealD 3D technology on an additional 50 cinema screens across UME International Cineplex’s Northern China locations. Combined with the 50 current RealD 3D installations at UME International Cineplex’s Southern China locations, UME International Cineplex will have a total of 100 RealD 3D equipped screens across its circuit. Under the terms of the expanded agreement, RealD becomes the exclusive circuit wide 3D technology provider for UME International Cineplex. Installations of RealD 3D technology at UME International Cineplex’s Northern China locations have already begun.
“Currently, the world’s brightest 3D projection technology is provided by RealD. UME International Cineplex Group will exclusively use the latest 3D technology of RealD. Among Chinese moviegoers, there is a tremendous demand for 3D movies, and there are more and more 3D movies being made and released. I believe RealD will have great prospects in China,” said See-Yuen Ng, founder and chairman of UME International Cineplex.
“It is exciting to see UME’s continued development in the China cinema market and RealD is honored to be a part of it,” said Edman Chan, RealD’s Vice President and General Manager, Cinema, Asia Pacific. “Together, we will deliver the bright, lifelike and immersive visual experience for the viewing audience that has become synonymous with RealD 3D.”
Since opening their first cinema in 2002, UME International Cineplex has been dedicated to delivering the ultimate movie experience to Chinese audiences. By the end of 2013, UME International Cineplex expects to be operating 22 cinemas, 253 screens and 31,700 seats, with box office revenues estimated to exceed 600 million RMB.RealD 3D is currently available on approximately 1,300 cinema screens in China with future commitments for approximately 1,000 additional installations for a total of approximately 2,300 screens.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts