CinemaxX plots 3D upgrades
Preparing theaters for 'Up,' 'Avatar'COLOGNE, Germany -- CinemaxX, the German cinema exhibitor controlled by Herbert Kloiber, has signed up with 3D equipment group RealD to digitally upgrade its theaters across Germany and Denmark.
The multi-year deal will see RealD equip 30 CinemaxX theaters in time for the German 3D release of Disney's "Up" on September 17. A further 30 CinemaxX screens will be 3D-ready by the end of the year, the majority in time for the December 17 bow of James Cameron's "Avatar," with the rollout continuing through 2010. CinemaxX CEO Christian Gisy put the value of the company's investment in the rollout at "significantly more than €5 million ($7 million)."
The CinemaxX chain operates 36 cinemas with 303 screens in Germany and Denmark. RealD technology is installed in some 3,200 screens in more than 45 countries and the company has contracts for around 8,700 screens worldwide.
CinemaxX also announced its half-year results Tuesday, showing a 9.2% revenue jump to €90.9 million ($130 million) and net profits at €200,000 ($287,000) after a €2.8 million net loss over the same period last year.