RealD Opens Asia Offices
3D Cinema Technology Firm Sets up Shop in Hong Kong, Shanghai
BEIJING -- 3D cinema technology company RealD has opened offices in Hong Kong and Shanghai to handle booming sales in China, Southeast Asia and Korea, the Los Angeles-based and New York Stock Exchange-listed company said on Tuesday.
At the end of the third quarter, RealD had grown its 3D technology installations in Asia by 350% from the prior year as Asian audiences flock to cinemas 3D offerings from Hollywood such as Avatar and the rise of domestic 3D productions.
“We look forward to leveraging our new offices to continue this growth,” Joseph Peixoto, ReadD’s president of worldwide cinema, said in a statement.
Edman Chan, a veteran of Eastman Kodak, has joined RealD to oversee the Hong Kong and Shanghai offices, which also will handle customer service across the region. A Hong Kong native, Chan was named RealD general manager for cinema for Greater China, Southeast Asia and Korea.
Also joining RealD is Bryan Ishijima, named director of business development for cinema in Japan, based in Tokyo. Ishijima previously was sales director for Twentieth Century Fox Japan.
RealD claims its 3D technology systems for movie theaters currently supply 17 of the 18 largest exhibitors in the world. As of the quarter ending September 24, 2010, RealD had deployed its 3D technology on approximately 9,300 cinema screens worldwide.
At the recent CineAsia distributors and exhibitors trade show in Hong Kong, a panel discussion about the growth of 3D in China alone revealed that China now has about 6,000 screens, including only 3,364 digital screens that are 3D-ready. With help from the government and rapid real estate development, China expects to have 12,000 screens overall in the next five years.