XDC Signs Digital Cinema Deployment Agreements with Sony Pictures Releasing International and Universal City Studios LLP

http://www.digitalcinemainfo.com/xdc_06_24_08.php

 

June 24, 2008

 

Source: XDC

 

XDC, the leading digital cinema service company in Europe, has signed non-exclusive agreements with Sony Pictures and Universal and is now the first deploying entity having signed with six (6) major U.S. distributors to target the deployment of up to 8,000 DCI-compliant digital cinema installations across Europe.

 

Sony Pictures Releasing International (“Sony Pictures”) and Universal City Studios LLP (“Universal”) will support XDC, acting as a Deploying Entity, to roll out DCI-compliant digital cinema systems for theatrical presentations in several countries in Europe. Under the terms of the agreements, Sony Pictures and Universal have independently and non-exclusively agreed to supply European exhibitors with their feature films in digital form (if booked) for projection on DCI-compliant digital cinema screens, as well as to make financial contributions in order to promote DCI-compliant digital cinema projection systems (a new and higher quality delivery format).

 

These agreements, together with those signed with Warner Bros. Entertainment Inc., Paramount Pictures Corporation, Twentieth Century Fox Film Corporation and The Walt Disney Studios, are a major milestone in Europe, and for XDC in particular … the company is now the first one to offer a full Hollywood slate and will work with the European Distributors.

 

Commenting on the announcement, Mark Zucker, President of Distribution for Sony Pictures Releasing International, said: "Digital cinema is not just about the evolution of motion picture exhibition; it’s about the technological revolution that allows consumers to experience our motion pictures the way filmmakers intend, with beautiful, clear images and pitch perfect sound. Enhancing the theatrical experience for audiences everywhere is the goal of Sony Pictures and we are delighted and excited to support XDC as we work together to provide state-of-the-art projection systems to moviegoers.”

 

David Kosse, President, Universal Pictures International agreed: “XDC is warmly supported by Universal. The digital world is the future, and we as a studio are committed to its continual and sustained growth. We look forward to supplying our movies to this new digital platform and, along with audiences, reaping the rewards by continuing to enhance the theatrical experience.”

 

Serge Plasch, XDC’s Chief Executive Officer commented: “These agreements with Sony Pictures and Universal, together with the ones signed with the other studios, mark and ease the beginning of the large scale deployment of digital cinema in Europe. For XDC, the next steps are the negotiation of similar agreements with European movie distributors, the sale of this co-financing proposal to cinema exhibitors across Europe and last but not least, both equity and debt raising to fund the digital roll-out phase. This infrastructure deployment will also help XDC to develop its other activities: first, the design and sale of cinema advanced solutions, secondly, the installation and maintenance of complete digital cinema systems for exhibitors, and thirdly, digital content processing and distribution services for movie distributors and advertising sales houses.”