Cinedigm Digital Cinema Corp. Passes 12,200 Digital Screen Signings Mark, with 273 Exhibitor Partners On Board
Cinedigm has deployed over 70% of all North American exhibitors
and approximately 40% of all digital cinema screens in North America and
is now aggressively expanding overseas
LOS ANGELES--(BUSINESS WIRE)--
Digital Cinema Corp. (NASDAQ:CIDM) today announced it has signed
more than 12,200 digital cinema screens with 273 exhibitor partners in
its digital cinema deployment. In total, Cinedigm has deployed over 70%
of all North American exhibitors and approximately 40% of all digital
cinema screens in North America.
The company breaks down deployment numbers as follows:
Phase One (3,724 screens): Cinedigm is the servicer and earns services
fees on the total VPF revenues and also owns all residual cash flows
and asset value;
Phase Two (8,519 screens), Cinedigm is the servicer only and earns
upfront license fees and recurring revenue from on-going maintenance
fees for our software division.
In the last 18 months alone, Cinedigm has signed 4,697 screens,
representing 55% of its Phase 2 screen deployment (8,519), with over 175
exhibitors in that time period, representing 65% of its Phase 2
exhibitor base. Additionally, the company has the distinction of screen
representation in all 50 states. Outside of the US, Cinedigm has
screen representation in Canada, the Caribbean, American Samoa and
Saipan and has made significant inroads in the last months on the
international front, including selection as the digital cinema
integrator of independent cinemas in Australia and New Zealand (ICAA),
as well as providing negotiation and technical services for a consortium
of Brazilian theatres.
"The momentum behind digital cinema deployments has been incredible.
When we conceptualized the digital cinema rollout our goal was to deploy
approximately 11,000 screens, so we are thrilled to have significantly
surpassed our expectations with a remarkable 273 exhibitor partners
representing over 12,000 screens entrusting Cinedigm with their digital
cinema program," said Chris McGurk, Chairman and CEO, Cinedigm.
"Importantly, this domestic deployment merely lays the worldwide
foundation for Cinedigm's other core businesses, including digital
cinema servicing, digital cinema software and alternative content
distribution. This is truly just the beginning of our international
expansion in all our core businesses."
In the combined Phase One and Phase Two digital cinema deployment
program, Cinedigm has:
Signed 12,243 screens overall
Installed 10,875 digital screens (as of 10/5)
Signed digital screens deals with 273 exhibitors
"These numbers mark a huge milestone for both Cinedigm and the entire
exhibition industry and illustrate very clearly that Cinedigm is
actively helping all exhibitors -- from large chains to the independent
exhibition community -- make the critical transition to digital cinema,"
said Gary Loffredo, Cinedigm's President of Digital Cinema. "The digital
cinema transformation will have long-lasting ramifications on all
aspects of the theatrical industry, from the types of content shown in
theatres to overall management efficiencies and effective collecting and
evaluating of critical data analytics."
Cinedigm Digital Cinema Corp. is a leader in providing the services,
experience, technology and content critical to transforming movie
theaters into digital and networked entertainment centers. The Company
partners with Hollywood movie studios, independent movie distributors,
and exhibitors to bring movies in digital cinema format to audiences
across the country. Cinedigm's digital cinema deployment organization,
state of the art distributor and exhibition software, and marketing and
distribution platform for alternative content and independent films are
a cornerstone of the industry's digital cinema transformation. With the
April acquisition of New Video, the world's largest aggregator of
independent digital content and leading distributor of quality
entertainment, CIDM has created a new full service end-to-end digital
studio, enabling the Company to acquire and distribute independent films
and specialty content both theatrically and via digital, mobile and home
media platforms, including iTunes, Hulu, Vudu, Netflix, xBox, and
Playstation to name a few.
Cinedigm™ and Cinedigm Digital Cinema Corp.™ are trademarks of Cinedigm
Digital Cinema Corp. www.cinedigm.com.
For Cinedigm Digital Cinema:
Maggie Begley, 310-301-1785
Source: Cinedigm Digital Cinema Corp.
News Provided by Acquire Media
Close window | Back to top