Cinedigm Digital Cinema Hits Double Milestones in Digital Cinema Deployment
9,000 Signed Digital Cinema Screens Total; Nearly 5,300 Signed in Phase Two Alone
WOODLAND HILLS, CA -- (MARKET WIRE) -- 08/08/11 --
Cinedigm Digital Cinema Corp. (NASDAQ: CIDM) today announced it has signed over 9,000 digital screens in its combined Phase One and Phase Two digital cinema deployment, of which 5,300 screens are from its Phase Two digital cinema deployment program. In total, Cinedigm is responsible for deploying nearly 33% of all digital cinema screens in North America.
"All theatres need to convert to digital soon, and Cinedigm is the trusted partner of NATO's Cinema Buying Group," said John Fithian, President of National Association of Theatre Owners (NATO). "NATO and the CBG congratulate Cinedigm on these momentous milestones, and urge our members to join the digital ranks now."
Cinedigm's Digital Cinema division is the industry-leading deployment program for Digital Cinema. It facilitates the funding, installation and operations support and ongoing VPF administration for the company's Digital Cinema rollout plans throughout the United States and Canada. Cinedigm, which has signed long-term VPF agreements with all the major studios and interim agreements with dozens of independent distributors, is also the digital cinema integrator partner for the CBG, a buying program of the National Association of Theatre Owners (NATO) for independent theatre operators in the United States and Canada.
"Cinedigm is without question the number one choice for exhibitors to entrust with their digital cinema program, and these recent milestones reflect that choice by more than 130 of our valued exhibitor partners," said Gary Loffredo, General Counsel, Cinedigm.
In the combined Phase One and Phase Two digital cinema deployment program, Cinedigm has:
- Signed 9,000+ screens overall
- Installed over to 6,700 digital screens
- Signed 81 Cinema Buying Group exhibitors, representing more than 1,600 screens
- Signed exhibitor buyer deals representing more than 3,600 screens
- Signed Phase Two Cinedigm financed deals representing close to 1,700 screens
"With just over 12 months remaining before the end of our rollout period per our studio agreements, we are expecting an unprecedented number of additional signings and installations for the many remaining exhibitors," said Chuck Goldwater, President, Media Services Group. "We have a lot of work ahead of us in helping those exhibitors with signing agreements, getting financing, ordering equipment and lining up installation resources. We are committed to doing everything we can to ensure no exhibitors are left behind."
Cinedigm offers a new business model to exhibitors by enabling theatres to present engaging alternative programming including live 2D and 3D sporting events and concerts, shorts, cartoons, live Q&A's, as well as branded entertainment. Recent releases by Cinedigm include the groundbreaking, LIVE 3D broadcast of The Foo Fighters performance, the worldwide LIVE 3D broadcast of the FIFA World Cup Championship, the BCS Championship in LIVE 3D, the Dave Matthews Band 3D concerts, and the sold out 3D PHISH concerts. Cinedigm has also released the KIDTOONS series for the past six years, a weekly family friendly matinee series that runs in over 165 theatres across the country. Cinedigm also provides a number of powerful software applications that enable exhibitors to enhance and streamline their daily operations. Additionally, Cinedigm offers precision marketing tools to dramatically
increase exhibitor marketing effectiveness, including social media initiatives, targeted advertising and strategic public relations. Cinedigm™ and Cinedigm Digital Cinema Corp™ are trademarks of Cinedigm Digital Cinema Corp www.cinedigm.com [CIDM-G]
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Source: Cinedigm Digital Cinema
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