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Monday, July 19, 2010

Korea's Largest Theatre Chain CJ CGV Standardizes on MasterImage Digital 3D Cinema Systems

As of right now, MasterImage 3D projection systems are now in more than 70% of Korea's 3D theaters. Those are pretty impressive numbers for the company that continues to make great inroads into the marketplace.

Further, MasterImage 3D also recently entered the New Zealand exhibition market, with the sale of its first digital 3D cinema system to Palmerston North-based Downtown Cinemas, that nation's largest multiplex franchise.

Here is the Korean press release:
Burbank, California and Seoul, Korea (July 19, 2010) - 3D technology company MasterImage 3D, LLC announced today that CJ CGV, the largest theatre chain in Korea, recently converted 58 additional screens to 3D with MasterImage digital 3D cinema systems. In addition to supplying systems for all of CJ CGV's 160 3D theatres, MasterImage 3D has also installed four systems in Korea's Lotte Cinema in Suncheon.

These installations, combined with existing systems at Primus Cinema, Ya Woo Ri Cinemas and more theatres across Korea, bring MasterImage's total to 175 of the country's estimated 250 digital 3D screens -- more than 70% of Korea's total 3D exhibition market share.

CGV Manager Sung woo Kang said, "MasterImage 3D's system offers an outstanding value compared to other products on the market, and it is simple to install. Also, with the high resolution picture quality, audiences' responses to the presentation are great."

MasterImage 3D has experienced rapid growth in the demand for its digital 3D theatre systems, nearly doubling its worldwide installation in the past eighteen months. Today, the company has installed more than 1,800 systems in 40 countries worldwide (approximately 400 in the US, 770 in Europe and 700 in Asia and the rest of the world).

Younghoon Lee, founder, chairman and CEO of MasterImage 3D said, "From our US headquarters and offices in Asia and Europe we are aggressively converting theatre markets all over the world. Exhibitors are recognizing that our ownership-based model and passive-glasses approach offers them a different, and often more attractive business proposition than competitive systems and they're demonstrating that recognition by choosing MasterImage in increasing numbers."

About CJ CGV
CJ CGV (http://www.cgv.co.kr) is the largest multiplex theater franchise in Korea. Established as a joint venture consisting of CJ Group of Korea, Golden Harvest of Hong Kong and Village Roadshow of Australia, CJ CGV is independently managed by CJ Group at present. As of January 2010, CJ CGV owns 70 movie theaters nationwide. Recently, CJ CGV, as the first in Korea, opened a 3D screen in LA for advancing into the U.S. market.

About MasterImage 3D, LLC
MasterImage 3D, LLC is a stereoscopic 3D technology company that provides pioneering 3D solutions for theaters, television and handheld devices. With more than 1,800 theatre systems installed worldwide, MasterImage offers audiences the best 3D image experience, while providing exhibitors with a compelling ownership-based pricing model. The company's auto-stereoscopic (glasses-free), 3D LCD technology for mobile and electronic devices are the first commercial displays of their kind, and the company's 3D camera ASIC empowers dual camera-equipped devices that enable users to create and share 3D content. The company is gearing up to deploy millions of auto-stereoscopic units with multiple manufactures worldwide. Founded in 2004, MasterImage is privately held by Symphony 3D Holdings and is headquartered in Burbank, California with offices in Buckinghamshire, UK and Seoul, S. Korea.

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