Nice Read from CinedigmCinedigm Issues Digital Cinema Industry Update
The Leader in Fully Deployed Digital Screens Offers Unique Insights
LOS ANGELES, CA and MORRISTOWN, NJ, Oct 11, 2010 (MARKETWIRE via COMTEX News Network) --
CinedigmDigital Cinema Corp. (NASDAQ: CIDM) today issued an update on the stateof the digital cinema industry in the United States and Canada.
JamesCameron's "Avatar" prompted exhibitors to deploy digital 3D screens inlate 2009, and the outsized success of that movie has prompted continueddeployment on a global scale. At present, there are 12,802 digitalscreens in the U.S. and Canada, out of an estimated population of 39,000screens*, representing a 65% uptick from this time last year.
Exhibitorinterest in digital cinema is not limited to blockbuster 3D movies,however. Digital cinema enables exhibitors to turn their theatres intocomplex entertainment destinations, offering live sporting events (oftenin LIVE 3D), big-screen gaming, concerts, family friendly programmingand much more.
"Live 3D sporting events, concerts in 3D,interactive gaming, greater numbers of independent films and otherprogrammatic content -- digital cinema opens up an entire world ofentertainment options for networked digital theatres," said Adam M.Mizel, co-CEO, Cinedigm. "Cinedigm's digital cinema platform has helpeddrive the effort to reach this point, but much more is possible as thewave of digital cinema adoption rolls out across North America and theworld. We've only just begun."
Cinedigm has served as a drivingforce in the exhibition industry's transition to digital. And resultingfrom Cinedigm's Phase One and Phase Two digital cinema deploymentprograms, Cinedigm has to date signed 57 exhibitors in the United Statesand Canada, comprising of more than 6,000 digital screens. Upon finalinstallation, these screens will account for almost 50% of the total12,802 digital screens in the United States and Canada*. Slightly morethan half of all digital screens have the capability to show movies,events and other forms of alternative content in 3D.
Since launching the Phase Two digital cinema deployment program last year, Cinedigm has:
-- Closed 26 Cinema Buying Group exhibitors, representing close to 800screens -- Closed exhibitor buyer deals representing close to1,600 screens -- Closed Cinedigm financed deals, representing almost800 screens -- Installed approximately 1,200 additional digital screens
"We are pleased with and proud of our progress," said Gary S.Loffredo, co-CEO, Cinedigm. "We are experiencing increasing interest inour digital cinema deployment program and expect the momentum to lead toan expansion of our signed backlog and an increase in the number ofdigital cinema installations."
Like other successful technologyinnovators, Cinedigm provides a critical platform that combines thedigital cinema projectors/servers they finance and install, withindustry leading satellite, hard drive and now fiber/internet deliveryplatform, as well as Cinedigm software to make the whole platform work.Cinedigm then leverages this platform with innovative applications:alternative content and independent film marketing and distribution;software and data analytical applications and pre-show, web and kioskbased advertising.
* These figures do not include IMAX screens.
AboutCinedigm Cinedigm is a leader in providing the services, experience,technology and content critical to transforming movie theaters intodigital and networked entertainment centers. The Company partners withHollywood movie studios, independent movie distributors, and exhibitorsto bring movies in digital cinema format to audiences across thecountry. Cinedigm's digital cinema deployment organization, software,satellite, broadband and hard drive digital movie delivery network;pre-show in-theater advertising services; and marketing and distributionplatform for alternative content such as CineLive(R) 3-D and 2-D sportsand concerts, thematic programming and independent movies is acornerstone of the digital cinema transformation. Cinedigm(TM) andCinedigm Digital Cinema Corp.(TM) are trademarks of Cinedigm DigitalCinema Corp. www.cinedigm.com [CIDM-G].
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Media Contact: Dave McNamee HL Group for Cinedigm Digital Cinema Corp.(646) 274-3635 Email Contact Investor Relations: David Walke646.728.2298 Email Contact
SOURCE: Cinedigm Digital Cinema Corp.
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