LOS ANGELES & MOSCOW--(BUSINESS WIRE)--RealD Inc. (NYSE: RLD), a leading global licensor of 3D technologies, and Kinomax LLC, the largest regional theatrical cinema chain in Russia, today announced an agreement to equip up to 100 Kinomax cinema screens across Russia with RealD 3D technology.
“Kinomax has installed the first 9 RealD 3D systems in Rostov, Volzhskiy and Krasnodar and plans to complete the installation of the remaining 91 systems by the end of calendar year 2013,” said Dmitry Nartov, GD, Kinomax.
Robert Mayson, Managing Director, RealD Europe added: “Kinomax is a well-known and highly respected circuit in Russia and we look forward to working with them to equip their auditoriums with the industry’s brightest 3D.”
The deal marks continued development of the premium RealD offering in Russia, a key market for the company given the rapid growth of 3D-enabled screens in the territory. Russia is one of the world’s leading cinema markets with Russian box office estimated to total approximately $1.3 billion (40.5 billion rubles) in 2012, a 15 percent increase from 2011, according to Romir Movie Research. Similarly, 3D cinema ticket sales in the region continue to grow, increasing by more than 200% between June 2010 and June 2012, according to IHS Screen Digest.
RealD is the world’s most widely used 3D cinema technology with approximately 22,200 screens equipped with RealD 3D by approximately 1,000 exhibitors in 68 countries around the world (as of December 31, 2012).
Kinomax currently operates more than 28 cinema locations with 149 auditoriums in more than 20 cities across Russia, including Moscow.
About RealD Inc.
RealD is a leading global licensor of 3D technologies. RealD's extensive intellectual property portfolio is used in applications that enable a premium 3D viewing experience in the theater, the home and elsewhere. RealD licenses its RealD Cinema Systems to motion picture exhibitors that show 3D motion pictures and alternative 3D content. RealD also provides its RealD Display, active and passive eyewear, and RealD Format technologies to consumer electronics manufacturers and content producers and distributors to enable the delivery and viewing of 3D content. RealD's cutting-edge 3D technologies have been used for applications such as piloting the Mars Rover.
RealD was founded in 2003 and has offices in Beverly Hills, California; Boulder, Colorado; London, United Kingdom; Moscow, Russia; Shanghai, China; Hong Kong; and Tokyo, Japan. For more information, please visit our website at www.reald.com.
Cautionary note on forward-looking statements
This press release includes forward-looking information and statements, including but not limited to: statements concerning the anticipated rollout of RealD 3D technology across the Kinomax circuit and the growth of the 3D cinema industry in Russia. These statements are based on RealD’s current expectations and beliefs, as well as a number of assumptions concerning future events. Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside RealD’s control that could cause actual results to differ materially from the results discussed in the forward-looking statements. RealD’s annual and quarterly reports include a more detailed discussion of the risks and uncertainties that may cause that could cause actual results to differ materially from the results discussed in the forward-looking statements.
RealD undertakes no obligation to update publicly the information contained in this press release, or any forward-looking statements, to reflect new information, events or circumstances after the date they were made, or to reflect the occurrence of unanticipated events.