Morristown, NJ & Los Angeles, CA -- Cinedigm Digital Cinema Corp. (Cinedigm) (NASDAQ; CIDM), the global leader in digital cinema, announced today that the Telluride Film Festival has named Cinedigm as its official Digital Cinema Advisor. The Telluride Film Festival is an annual gathering of cinema enthusiasts, filmmakers, critics and industry insiders. It ranks among the world's most prestigious film festivals. This year's Festival will take place from September 3-6 in Telluride, Colorado.
In its role as Digital Cinema Advisor, Cinedigm will help the Telluride Film Festival implement digital cinema systems for its theaters, including the Palm Theater, the Chuck Jones Cinema and the Galaxy Theater. Cinedigm will contribute strategic and technical advice relative to digital cinema, and will help the Festival identify the appropriate vendors necessary to transform the Festival into a digital venue.
"We are thrilled to have Cinedigm join us in our commitment to excellence in film presentation," said Julie Huntsinger, Tom Luddy and Gary Meyer, co-directors of the Telluride Film Festival. "We strive to provide an environment that showcases the most creative minds in film. Digital Cinema is a growing aspect of the industry's future and Cinedigm's unparalleled expertise in Digital Cinema is a huge asset for the Festival."
There are more than ten thousand digital cinema screens in the United States today, representing approximately 27 percent of all U.S. screens. Cinedigm estimates that by the end of 2012 at least 70 percent of U.S. screens will be digital. Digital cinema conversion has been underway for several years, but the past 12 months witnessed a spike that outpaced the previous five years combined. In part, this was driven by the success of digital filmmaking and the wave of successful 3D movies; James Cameron's Avatar set multiple world records, and helped to show how seamlessly and beautifully digital technology could be incorporated into movies.
The year saw other global firsts that demonstrated the versatility of digital cinema. These include the distribution by Cinedigm of the NCAA Final Four®, as well as the FIFA World CupTM Finals in live 3D to theatres. Numerous concerts were filmed and released theatrically in 3D, including Phish and The Dave Matthews Band, giving fans a vivid front-row seat and an unparalleled "you are there" experience. Cinedigm enabled James Cameron to appear in live 3D to an Earth Day summit in Seoul, Korea. The stars of the independent film Opa! conducted a live Q&A and virtual red carpet premiere with audiences nationwide; fans texted questions to the movie's stars, who answered them live. Digital cinema enables a real-time interplay between entertainers and fans at a level that was previously impossible.
Digital conversion now gives producers and directors a direct avenue into theaters that was otherwise closed to them, affording them a guaranteed way to reach their audience. Cinedigm serves as a marketer and distributor as well as a technology integrator and consultant. Cinedigm delivers content directly onto thousands of theatrical screens nationwide in economic alignment with producers and directors. In this sense, digital cinema is driving a paradigm shift in content creation and distribution. Cinedigm is central to that process.
"2010 has been a watershed year in the evolution of digital cinema," said Adam M. Mizel, Interim co-CEO of Cinedigm. "Cinedigm has been one of digital cinema's primary architects and as such, we've developed a network of theatres across the country that can bring new and exciting options to theatre audiences, independent producers and movie exhibitors alike. The Telluride Film Festival is a leading independent film event and one of the most respected gatherings of film visionaries each year. We are excited to support the Festival and introduce digital cinema and its opportunities to its attendees."