Wednesday, May 23, 2012

RealD Expands Presence In China: Adds Bona Film Group

RealD said today that it has signed a deal to install 100 screens for the Bona Film Group of China. China continues to garner interest from Hollywood from multiple angles including production. Indeed the country has agreed to bring in multiple Hollywood movies a year and a large portion of those MUST be 3D. The Chinese have embraced the format and so it is a natural progression to see that RealD has stepped up their presence there.

RealD has also passed the 20,000 3D-equipped screen milestone back in April.

From the LATimes: "3-D technology gives moviegoers a more immersive visual experience, which takes the movie business to a new level,'' said Don Yu, chairman and CEO of Bona Film Group. "Bona strives for the highest industry standard, both in movie production and exhibition, which is why we selected RealD to equip all of our locations."

RealD already is supplying its 3-D technology to 650 cinema screens in China with commitments to add 1,400 more. Founded in 2003, RealD has grown into the world's largest licensor of 3-D cinema technology with approximately 20,200 screens in 68 countries.

The announcement is the latest among several deals between entertainment companies in the U.S. and China. On Sunday, Chinese conglomerate Dalian Wanda Group acquired AMC Entertainment, the nation's second largest theater circuit, for $2.6 billion.

Congratulations to RealD and Bona Film Group!

Source: LATimes

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