RealD Signs Largest Ever 3D Installation Agreement With Wanda Cinema As Companies Significantly Expand 3D Across China
Wanda to Install RealD 3D Projection Systems On 5600 Screens Throughout China By 2020
Beijing, China & Los Angeles, CA (August 1, 2016) – Global 3D and visual technology company RealD Inc. and Wanda Cinema Line Corporation announced today the largest ever 3D installation agreement in the history of the format as the companies expand their growing relationship and commit to equipping a total of 5,600 screens throughout China with RealD’s state-of-the-art projection technology. The announcement was made today by Michael V. Lewis, CEO and Founder of RealD.
As part of the pact, Wanda will install no less than 4000 new RealD 3D projection systems during the next four years in Wanda Cinema Line theaters across China. Wanda has already equipped 1,600 of their screens with RealD’s 3D technology.
The deal significantly expands the 3D footprint in China, which is already the world’s most important 3D market. RealD is the world’s leading and dominant 3D technology provider as the company currently equips and licenses more than 28,000 screens with 3D systems. Through this agreement, RealD will expand to more than 32,000 screens in 72 countries worldwide.
RealD and Wanda first began collaborating together in 2010.
“As audiences throughout China continue to seek more and more 3D content, Wanda is investing in the very best systems and technology that allow for the highest quality presentation of 3D movies. Our RealD equipped theaters have been a significant part of our growth strategy and we are pleased to expand our partnership with RealD with this history making installation agreement. We believe with RealD’s superior technology and Wanda’s commitment to building and equipping exceptional movie theaters, we will continue to create the very best experience for moviegoers,” said Mr. Xiaobin Liu, Executive President of Wada Cinema Line Corporation.
“China has steadily become the world’s most significant 3D market and the scale of this installation agreement signals an unprecedented commitment to the growth of 3D in this critically important entertainment region,” said Michael V. Lewis. “We are enormously proud of our partnership with Wanda Cinema Line. As one of the pre-eminent global exhibitors, Wanda is known for investing in premium quality brands and equipment and we could not be prouder of their support and commitment to RealD as they expand and enhance their chain throughout China.”
“Wanda has always been the most forward thinking market leader in China and they are known as innovators in the global exhibition business. Wanda’s tremendous expansion and success mirrors the rapid growth of the Chinese cinema business as well as the movie business in China as a whole. It’s been our privilege to partner and grow together and we are thrilled and honored to be selected as their 3D provider as they enter this exciting new phase of growth. RealD provides the best state-of-the-art technology as well as quality-control services to ensure a premium cinema experience to the widest Chinese audience,” said Anthony Marcoly, President of Worldwide Cinema for RealD.
Along with expanding the install base with Wanda, RealD and Wanda have also committed to upgrading visual quality in theaters they jointly equip. In 2014, RealD launched a quality assurance and management program known as RealD 6FL Certification. Wanda Cinema Line was the first cinema circuit in Asia committing to the program.
RealD 6FL Certification ensures that qualified theaters will always show 3D movies in the optimal level of 6 Foot Lambert brightness. Certified theaters regularly receive quality inspections to ensure that the 3D projection maintains certain standards of brightness and quality control.
About RealD Inc.
RealD is a leading global licensor of 3D and other visual technologies. RealD is the world’s most widely used 3D technology and our extensive intellectual property portfolio is used in applications and products that enable a premium viewing experience in the theatre, the home and elsewhere.
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 Wanda Cinema Line
Established in 2005, Wanda Cinema Line Corporation Limited is a subsidiary of Wanda Group. As of June 30, 2016, Wanda Cinemas was operating 320 theatres in nearly 120 cities in China as well as major cities in Australia and New Zealand, with 2,789 total screens. Wanda Cinemas accounted for approximately 14% of China’s market share in terms of box office revenue, ranking No. 1 in the China market for the seventh consecutive year. In 2015, Wanda Cinemas grossed 6.3 billion yuan in box office revenue.
With “prioritizing audience value and their movie going experience” as its business philosophy, over the years, Wanda Cinema Line strives to provide high-standard design and construction, high-class exhibition technologies, and high-quality standardized services, offering the cinema environment of choice for more than 60 million Wanda fan club members. In 2015, Wanda Cinema Line officially announced its “membership+” strategy, aiming at building a world-leading cinema lifestyle ecosystem, marking its transformation from a cinema chain to a technology, platform and ecosystem-based company.
For more information, please visit www.wandacinemas.com