BEIJING & LOS ANGELES -- Global 3D and visual technology licensor RealD Inc. (NYS: RLD) and UME International Cineplex announced today an agreement to install RealD 3D technology on an additional 50 cinema screens across UME International Cineplex's Northern China locations. Combined with the 50 current RealD 3D installations at UME International Cineplex's Southern China locations, UME International Cineplex will have a total of 100 RealD 3D equipped screens across its circuit. Under the terms of the expanded agreement, RealD becomes the exclusive circuit wide 3D technology provider for UME International Cineplex. Installations of RealD 3D technology at UME International Cineplex's Northern China locations have already begun.
"Currently, the world's brightest 3D projection technology is provided by RealD. UME International Cineplex Group will exclusively use the latest 3D technology of RealD. Among Chinese moviegoers, there is a tremendous demand for 3D movies, and there are more and more 3D movies being made and released. I believe RealD will have great prospects in China," said See-Yuen Ng, founder and chairman of UME International Cineplex.
"It is exciting to see UME's continued development in the China cinema market and RealD is honored to be a part of it," said Edman Chan, RealD's Vice President and General Manager, Cinema, Asia Pacific. "Together, we will deliver the bright, lifelike and immersive visual experience for the viewing audience that has become synonymous with RealD 3D."
Since opening their first cinema in 2002, UME International Cineplex has been dedicated to delivering the ultimate movie experience to Chinese audiences. By the end of 2013, UME International Cineplex expects to be operating 22 cinemas, 253 screens and 31,700 seats, with box office revenues estimated to exceed 600 million RMB.
RealD 3D is currently available on approximately 1,300 cinema screens in China with future commitments for approximately 1,000 additional installations for a total of approximately 2,300 screens.
The world's most widely used 3D cinema technology, RealD 3D is installed in approximately 23,500 auditoriums by approximately 1,000 exhibitors in 74 countries around the world (as of June 30, 2013).
Universal reports the reformatted edition of Jurassic Park took in $6.64 million in its opening day in China on Tuesday. That figure is the fourth highest opening day of the year for a U.S. release in the market, behind Iron Man 3 ($19.1M), Pacific Rim ($8.6M), and Fast 6 ($8.3M). Jurassic Park 3D posted a better opening day performance than Man of Steel ($6.2M) and The Hobbit ($5.6M). China has been a graceful home for 3D conversions of past hits, Titanic 3D opened to $11.2 million in 2010. Film Business Asia is reporting that the big opening comes from occupying one third of the market's screens, a factor that should equate to cuts in box office revenue across the board.
EntGroup, a Beijing-based data provider, recently released their annual report on the Chinese film industry. Key takeaways include:
- By 2013, 3D screens will account for 80% of all screens in China.
- The report projects that the number of IMAX screens will reach 150 in 2013
- A majority of Chinese moviegoers in 2012 were young people aged 25 to 35. 88.8% have received a college education or higher. Film genre is indicated to be the decisive factor for audiences to see a movie in a theater. Action, comedy, sci-fi, and romance rank as the top 4 film genres. Of all people surveyed, 72.2% watched movies on smartphones and tablets.
- More and more Chinese audiences are watching films online and on mobile devices. As of the end of 2012, the number of Chinese online film viewers reached 372 million, an increase of 14.3%. In addition, 100 million Chinese users stream content on mobile phones.
Revenues from licensing films to new media platforms in 2012 were $78.7 million, an increase of 55%, nearly reaching that of TV sales, which are currently the largest revenue stream outside of box office proceeds.
Chinese film producers Chun-Yi Yueh and Changyu Li pair with UK writers and producers to launch Wonder Years; will produce 5 films within the next 3 years. [Screen Daily]
Toronto Film Festival secures lineup, includes three first-time Asian directors. [Film Business Asia]
China's CCTV buys more BBC history content in response to increasing interest in documentaries. [Hollywood Reporter]
Pacific Rim has now grossed more in China than in North America. Guillermo del Toro's high concept tentpole has collected $103.1 million after 19 days in China. Pacific Rim had only grossed $86.4 million in North America over the same time-period, and it's total at home currently stands at $98.4 million after six weeks of release. China is keeping Pacific Rim relevant at the global box office, contributing the biggest numbers to its $384.4 million worldwide total.
Guillermo del Toro's sci-fi flickis such a big hit that it has overshadowed the highly anticipated release of Tiny Times 2, the sequel to the controversial blockbuster that hit screens earlier this summer. The Tiny Times sequel notched a $16.92 million take in its first full week of release, reaching an impressive $44.1 million total.
Fast & Furious 6 is still keeping itself relevant after a bountiful summer at the global box office. The latest entry in the Fast & Furious franchise added $2.75 million last week to take its Chinese cume to $65.89 million.
Next week's chart will have to account for the huge opening of the Jurassic Park 3D re-release in China. The reformatted edition of the Steven Spielberg modern classic took in $6.64 million in its opening day in China on Tuesday. That figure is the fourth highest opening day of the year for a U.S. release in the market, behind Iron Man 3 ($19.1M), Pacific Rim ($8.6M), and Fast 6 ($8.3M). Jurassic Park 3D posted a better opening day performance than Man of Steel ($6.2M) and The Hobbit ($5.6M). China has been a graceful home for 3D conversions of past hits, Titanic 3D opened to $11.2 million in 2010. Film Business Asia is reporting that the big opening comes from occupying one third of the market's screens, a factor that should equate to cuts in box office revenue across the board.
Top 10 Films in China. Week Culminating on August 19, 2013
Data Courtesy of EntGroup