This CJ CGV (4DX) company competes with everyone - So whatBoy - all I am seeing with our so called "competitor" CJ CGV group....the makers of 4DX....is that these guys are rip off artists.
They have a company under their umbrella called "ScreenX". Ths ScreenX product is a 270 degree projection screen on 3 screens.
You know who else has this? BARCO. It's called The Barco Escape and has been installed in many theaters everywhere. But do you see Barco getting all upset and scared? No. They have many theaters to market to.
Here is a description:
ScreenX is the world's first multi-projection system used within a theatre setting. It was created in 2012 by CJ CGV, part of South Korean conglomerate CJ Group, as one of the “next cinema formats” along with 4DX, the multisensory cinema technology with motion and environmental effects. ScreenX allows moviegoers to go beyond the frame of the movie screen by utilizing a proprietary system that expands images of feature films and pre-show advertising to create an immersive, panoramic, 270-degree format that projects onto three theatre walls. To date, ScreenX has been installed in on 91 screens around the world, including 80 screens at 48 locations in South Korea; eight screens in China; two in the United States; and one in Thailand.
But nonetheless, this 4DX company is getting up in everyone's grill lately and I have a heavy suspicion that they are just stealing everyone else's ideas and selling them. And if they are stealing ideas, they probably are infringing on patents.
Anyways, my point is that they are trying to get in everyone's space. Not just ours.....so who cares. The market is too big to only have 1 dominate player for each product.
For example, in the Premium Large Screen Format market, you would think that IMAX is the only real player right? WRONG. There is XtremeXD, AVX, BigD, GrandScreen, MuviXL, SuperScreen DLX, Sky Screen and more!
The theater market is MASSIVE!
What I would worry about is what Universal and Warner Bros. said today. They said that they are considering allowing their movies to be streamed into homes only 2 WEEKS after they are shown in the theater if a customer coughs up a premium price of somewhere between $25-$50. This will cause theater attendance to go down massively, and hence why theater stocks went down today. THIS is what we should worry about. Not some South Korean company, with a cheesy product, who rips off everyone's ideas and trying to capture 2% of the potential market. They are not a threat.
Then again, this could bode well for D-Box and 4DX because theaters will now need people more than ever to have reason to go to the theater.