RealD Signs 3D Technology Deal for 50 Cinemas in China
The company has partnered with Chinese theater chain Zhejiang Xingguang, which plans to expand its theater network from 203 screens to 500 by 2015.
The 3D cinema licensor, RealD has signed an agreement with Chinese theater chain Zhejiang Xingguang Cinema Circuit to equip 50 of its movie theaters in China with RealD 3D technology.
Zhejiang Xingguang Cinema circuit currently owns and runs 32 cinemas with a total 203 screens, located across six provinces in eastern China. The company says by 2015 it plans to expand into China’s major cities – Shanghai, Beijing, Guangzhou – bringing its network total to 50 cinemas and 500 screens.
“We are dedicated to providing the highest standard services to moviegoers including being the first in each city to install the most advanced screening technologies, said Fu Haifang, general manager of Zhejiang Xingguang Cinema Circuit, in a joint statement. “Our cooperation with RealD further proves our pursuit of the highest quality presentation.”
The two companies said installations of the RealD technology across the Zhejiang Xingguang Cinema Circuit have already begun.
According to the latest estimates, China has approximately 15,000 screens for its population of 1.3 billion, or roughly one per every 86,000 people (North America, by contrast, has approximately one screen for every 40,000 residents). China is adding screens at a rate of eight per day, and the current total is expected to double by 2015.
“China continues to be a key growth opportunity for RealD,” added Edman Chan, General Manager of Asia for Cinema at RealD.
RealD 3D is currently available on approximately 1,100 cinema screens in China. The company says it has future commitments for the installation of 1,100 more, which will bring its China total to 2,200 screens.