HONG KONG & LOS ANGELES--(BUSINESS WIRE)--Global 3D and visual technology company RealD Inc. (NYSE: RLD) and leading Hong Kong and Chinese theatrical exhibitor Broadway Circuit announced today an agreement to install 3 “LUXE: A RealD Experience” (LUXE) auditoriums in Broadway’s cinema locations in mainland China. Introduced by RealD in 2013 as a new Premium Large Format (PLF) initiative, LUXE auditoriums will be installed at Broadway locations in Tianjing, Chengdu and Guangzhou, with the Tianjin location expected to open in May 2015. All 3 LUXE auditoriums opened at Broadway locations will feature RealD 3D projection and a RealD Precision White Screen.
“As a leading circuit in the rapidly growing and highly competitive China market, we have been looking for the best possible cinema setting for our moviegoers,” said Tessa Lau, CEO of Broadway Circuit. “We find LUXE a perfect match. We see it as an initiative to define our 2D and 3D premium offering. We are pleased to partner with RealD to jointly provide our audiences a unique, fully immersive experience.”
“LUXE auditoriums hold the promise of a new, unified Premium Large Format brand moviegoers will find synonymous with the best available cinema experience,” said Edman Chan, Vice President and General Manager, Cinema, Asia Pacific of RealD. “We look forward to working with Broadway to bring the LUXE brand to life so moviegoers can experience the assured quality 2D and 3D visuals, audio and seating that will combine to create the ultimate out-of-home entertainment experience.”
The LUXE installations at Broadway locations will mark the initial expansion for the LUXE brand into Asia, having first been introduced in Russia where there are currently 5 LUXE installations and 18 additional screens under contract.
“LUXE: A RealD Experience” is the Premium Large Format (PLF) initiative introduced by RealD in 2013 with the aim of unifying the exhibition community under a single brand and a goal of becoming synonymous with the ultimate out-of-home entertainment experience. Minimum standards will assure all LUXE auditoriums feature massive screens, ultra bright 2D and 3D, enveloping audio and luxury seating for a premium movie-going experience.
LUXE auditoriums will provide full flexibility with content, allowing exhibitors to show any movie at any time for optimized profitability. All LUXE auditoriums will meet minimum technology specifications to assure a premium cinema experience, such as: usage of RealD 3D, the industry’s brightest 3D projection technology; wall-to-wall / floor-to-ceiling screens of at least 16 meters in width; 3D sound; auditorium rakes to optimize patron’s views and more. Additional exclusive new technologies to be announced are expected to be incorporated into LUXE auditoriums.
The world’s most widely used 3D cinema technology, RealD 3D is installed in more than 26,000 auditoriums by approximately 1,000 exhibitors in 73 countries around the world (as of September 30, 2014).
About RealD Inc.
RealD is a leading global licensor of 3D and other visual technologies. RealD’s extensive intellectual property portfolio is and can be used in applications that enable a premium viewing experience in the theater, the home and elsewhere. RealD’s core business is the licensing of RealD Cinema Systems and the product sale of RealD eyewear to motion picture exhibitors to enable a premium viewing experience for 3D motion pictures and alternative 3D content in the theater.
RealD was founded in 2003 and has offices in Beverly Hills, California; Boulder, Colorado; London, United Kingdom; Moscow, Russia; Shanghai, China; Hong Kong; Tokyo, Japan; and Rio de Janeiro, Brazil. For more information, please visit our website at www.reald.com.
About Broadway Theatre Company Limited
Broadway Theatre Company Limited was established in 1950s and has gradually developed to nowadays the largest cinema circuit in Hong Kong and a leading brand in China. Broadway Circuit in Hong Kong provides 12 cinemas 62 screens with over 1,000 comfortable seats, having the largest market shares of 40%. Broadway started the first cinema in China since 2000 in Beijing, then spread out to Shanghai, Hangzhou, Shenzhen, Wuhan, Kunming, Chengdu, Qingdao, Tangshan, Jinan, and Wuxi cities to provide a presence of 24 cinemas and 153 screens of which 6 are in Premium Large Format. Broadway Circuit comprises three brands in China, including the stylish quality “Broadway,” the luxury elegance “PALACE” and modern classic “Premiere.” Each cinema comes with a different design feature, and is equipped with advanced digital cinema equipment, offering audiences almost the perfect visual and audio enjoyment. The Circuit is operated by her parent company, the Edko Films Limited. Edko is a full-scope independent company, apart from theatres operation, it also produces and distributes films, develops movie promotions and operates paid TV Movie channel.
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 “LUXE: A RealD Experience” auditoriums across the Broadway Circuit. 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.