LOS ANGELES, CA and MORRISTOWN, NJ -- Cinedigm Digital Cinema Corp.(NASDAQ: CIDM) today announced that their fourth quarter 2011 signed VPF deployment agreements totaled 1,402 screens and 32 exhibitors at 142 sites, marking the biggest number of individual exhibitors and screens signed in a quarter in the company's history.
Additionally, Cinedigm physically installed 1,885 screens during the fiscal year, making it the largest number of installations since the start of Phase 2 in March 2008.
In the combined Phase One and Phase Two digital cinema deployment program, Cinedigm has:
• Signed 7,657 screens overall at 750 sites
• Installed 5,919 digital screens
• Signed 59 Cinema Buying Group exhibitors, representing close to 1,450 screens
• Signed exhibitor buyer deals representing close to 3,100 screens
• Signed Cinedigm financed deals, with Phase 2 representing close to 1,000 screens
Cinedigm-installed screens account for over 35% of the total 16,000+ digital screens in the United States and Canada*.
"Cinedigm brings a unique program of products and services for exhibitors to realize the full power and benefits of their digital cinema platform," said Chuck Goldwater, President, Media Services Group. "Throughout our company we continue to innovate and implement new and compelling options that expand our exhibitor partners operations and revenue generating opportunities, which is a strong factor in their signing with Cinedigm."
Cinedigm's Digital Cinema division is the industry-leading deployment program for Digital Cinema. It facilitates the funding, installation support and administration for the company's Digital Cinema rollout plans. Cinedigm, which is supported by long-term VPF agreements with all the major studios, is also the digital cinema integrator partner for the CBG, a buying program of the National Association of Theatre Owners (NATO) for small and independent theatre operators in United States and Canada.
"Cinedigm is without question the number one choice for exhibitors to entrust with their digital cinema program," continued Goldwater. "We have earned that trust with an unmatched record of reliability and proven performance, delivering on our promises since ‘Day 1' of digital cinema. We are so proud of all our exhibitor partners and look forward to continuing to support their digital cinema business plans and ambitions for many years to come."
Cinedigm offers a new business model to exhibitors by enabling theaters to present engaging alternative programming including live 2-D and 3-D sporting events and concerts, shorts, cartoons, live Q&A's, as well as branded entertainment. Recent releases by Cinedigm include the groundbreaking, worldwide LIVE 3D broadcast of the FIFA World Cup Championship, the BCS Championship in LIVE 3D, the Dave Matthews Band 3D concerts, and the sold out 3D PHISH concerts. Cinedigm has also released the KIDTOONS series for the past six years, a weekly family friendly matinee series that runs in over 165 theatres across the country.
* These figures do not include IMAX screens.