Cineworld agrees to double Digital Estate to capitalise on major 3D film releases this year

http://www.digitalcinemainfo.com/cineworld_02_02_09.php

February 2, 2009

Source: Cineworld

Cineworld plc is delighted to announce today that it has signed an agreement with NEC, to double the number of digital screens across its estate.

The deal is to acquire 74 further digital projectors at a total cost of circa £4m which includes the equipment and installation costs. By April 2009 Cineworld plans to have a total of 148 digital screens fitted and operational across its entire estate, providing 1 in 5 screens with digital capability.

In addition, this transaction will create the largest 3D estate of any cinema chain in the UK. Cineworld will use technology from RealD, the world leaders in 3D, in 144 of its digital screens enabling it to show 3D movies to 40,000 customers at any one time.

During 2009 thirteen films are scheduled for release in 3D format including: Walt Disney’s, Bolt and Toy Story 3D; DreamWorks Animation Monsters Vs Aliens, a Paramount Pictures release; 20th Century Fox’s Ice Age 3: Dawn of the Dinosaurs and James Cameron’s Avatar; Sony’s Cloudy with a Chance of Meatballs and Universal’s Coraline.

Steve Wiener, CEO of Cineworld Group plc, said, “Cineworld is proud to be the UK’s leading digital operator and the deal with NEC further reinforces our market leading position. We strive to offer our customers the best possible cinematic experience and this deal means we can offer them the choice of digital programming across the UK. The timing of this deal enables us to take full advantage of the busy 3D film slate this year and I am pleased that Cineworld will be able to provide this latest technological advance to more of its customers.”

Cineworld envisages that the next stage of its rollout of digital screens in the existing estate will start once agreement is reached with the film studios on the financial terms of such a move.