Hollywood, CA -- Cinedigm Digital Cinema Corp.(NASDAQ: CIDM), the global leader in digital cinema, today announced a long-term VPF deployment agreement with SR Entertainment Group. The agreement will enable the conversion of SR Entertainment Group's theatres to digital cinema under the terms of Cinedigm's long-term agreements with all the major studios. This Cinedigm-financed conversion will deploy 81 Cinedigm-CertifiedTM screens across six existing sites, with completion expected by summer 2011.
SR Entertainment Group chose to exclusively deploy Barco digital cinema projectors. Utilizing these projectors with Cinedigm's digital cinema program will ensure high quality theatrical entertainment for SR Entertainment Group customers and the ability for each of the theatres to provide consumers all-new digital entertainment options, including high quality live and alternative content programming. The sites are located in the San Francisco Bay Area, California's Central Valley, and Southern California.
"We are excited that our digital deployment with Cinedigm will allow us to bring our audiences the latest in theatrical and alternative entertainment coupled with the best presentation achievable," said Dan Tocchini, President & CEO of SR Entertainment Group. "Cinedigm has a strong track record and I look forward to our partnership with them for years to come."
"For over 85 years the Tocchini family has set the standard for excellence in exhibition in the Northern California area," said Chuck Goldwater, President, Cinedigm's Media Services Group. "We are delighted that SR Entertainment Group has selected Cinedigm to help guide their transition to digital cinema and preserve that proud family tradition of excellence for many more 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 ground-breaking, 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.
In the combined Phase One and Phase Two digital cinema deployment program, Cinedigm has:
• Signed 7,991 screens overall at 763 sites
• Installed 6,006 digital screens
• Signed 64 Cinema Buying Group exhibitors, representing close to 1,450 screens
• Signed exhibitor buyer deals representing more than 3,200 screens
• Signed Phase 2 Cinedigm financed deals representing close to 1,200 screens
Cinedigm-installed screens account for over 35% of the total 16,000+ digital screens in the United States and Canada*.
Such theatres are fully networked, turnkey systems - simple and cost-efficient to operate.
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 studio-supported Digital Cinema rollout plans. Cinedigm is also the digital cinema integrator of choice 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.
* These figures do not include IMAX screens.