GDC, studios pact for Asian d-cinema rollout
PPI, Fox, UPI ink financing deals for features, equipmentGDC Technology has signed nonexclusive, separate agreements with 20th Century Fox, Paramount Pictures International and Universal Pictures International to facilitate the deployment of digital cinema across Asia.
Under the virtual-print-fee financing deals, the three studios have committed to supply Asian exhibitors with feature film content digitally, as well as to make financial contributions toward the hardware cost of DCI-compliant digital-cinema equipment deployed by GDC.
Phase 1 of the program covers 6,000 screens throughout Asia. Along with its current rollout in China, the pacts signal GDC's ongoing commitment to Asian exhibitors. GDC -- a subsidiary of the Hong Kong-based, publicly listed Global Digital Creations Holdings -- is planning Phase 2 of the deployment.
"These milestone agreements finally offer Asian exhibitors a viable commercial model to finance their digital conversion and put together a sustainable rollout strategy," said Man-Nang Chong, founder and CEO of GDC Technology. "The support of Fox, Paramount and Universal is a strong endorsement of GDC and its competency in delivering a pan-Asian deployment. We are expecting more signings with other studios and independent distributors in the near future."