Arts Alliance Media Signs Digital Deal With Germany’s CineStar
COLOGNE, Germany - Arts Alliance Media has signed a deal with CineStar to digitize the German exhibitor’s chain of multiplexes. The agreement will see a rollout of up to 450 screens over the next two years. Australia’s Amalgamated Holdings Limited, which controls CineStar parent Greater Union, will finance the digital upgrades and take advantage of Arts Alliance Media’s virtual print free agreements with the major Hollywood Studios to recoup their investment.
“Leveraging AAM’s deals with the Hollywood Studios, we will now jointly approach local distributors in Germany to work with us in this transition,” said Oliver Fock of CineStar.
The deal is a milestone for the German market, which has lagged behind many European territories in converting to digital and 3D technology. But the digita rollout is now picking up speed. This summer CineStar competitor CinemaxX signed an agreement to equip all of its nearly 300 screens with Sony’s 4K digital projectors.