AMC Theatres® Introduces Laser at AMC, Powered by Cinionic, Ushering in the Next Evolution of On-Screen Presentation
April 22 2022 - 12:00PM
Business Wire
In its first major broadscale projector upgrade
since the transition to digital, AMC signs exclusive agreement with
Cinionic to install laser projectors in 3,500 of its U.S.
auditoriums through 2026
The laser projection equipment and associated
auditorium enhancements powering Laser at AMC at the 3,500
auditoriums have an estimated value of around a quarter of a
billion dollars, with minimal upfront capital investment from
AMC
Laser at AMC represents a significant
acceleration of AMC’s commitment to enhance the on-screen
presentation
Moviegoers enjoying Laser at AMC can expect
improved picture contrast, maximum picture brightness, and more
vivid color, all of which are on-screen benefits of Laser
projection from Cinionic
AMC Theatres (NYSE:AMC), the largest theatrical exhibitor in the
United States, in Europe & the Middle East, and in the world,
today announced its first major broadscale projector upgrade since
the transition to digital with the launch of Laser at AMC.
The announcement is the result of an exclusive agreement between
AMC and Cinionic, the Barco cinema joint venture and global leader
in laser-powered cinema solutions, to significantly upgrade the
on-screen presentation at 3,500 auditoriums throughout the United
States, with cutting-edge laser projectors. Laser at AMC reinforces
AMC as the leader in premium theatrical exhibition experiences and
signals a significant AMC commitment to the future of movie-going,
on-screen presentation, and the Company’s dedication to Make Movies
Better. The move to laser projection offers a more environmentally
friendly way to present movies with less waste, including the
elimination of replacing xenon bulbs, and a significant reduction
in energy usage.
Later this year, AMC and Cinionic will begin installing laser
projectors in AMC auditoriums around the country on a
market-by-market basis, with the full initiative expected to be
completed by the end of 2026. The laser projection equipment and
associated auditorium enhancements powering Laser at AMC in the
3,500 auditoriums is valued at around a quarter of a billion
dollars. Cinionic’s Cinema-as-a-Service program enables minimal
upfront capital investment required by AMC to bring Laser at AMC to
moviegoers around the country.
The Laser at AMC experience delivered by laser projection from
Cinionic includes improved picture contrast compared to digital
projectors, more vivid color, and maximum picture brightness, with
guaranteed light levels that exceeds most 2D digital projection.
Cinionic, and founding partner Barco, have spearheaded laser-based
presentation technology for cinema since 2014 and today boasts more
than 30,000 laser projectors installed in theaters worldwide.
In addition to Laser at AMC, powered by Cinionic, AMC offers
laser projection in its Premium Large Format auditoriums: Dolby
Cinema at AMC, PRIME at AMC, and select IMAX at AMC, as well as in
its recent new-build openings.
Adam Aron, Chairman and CEO of AMC Theatres commented: “For the
last two years as AMC has navigated its way through the pandemic,
we have done so not only with the intention of survival, but with
an eye to the future of moviegoing and continuing to enhance the
guest experience at our theatres. Through our wonderful Premium
Large Format partnerships with IMAX and Dolby, AMC is firmly
established as the industry leader in premium experiences. Laser at
AMC, powered by Cinionic, allows us to bring a premium on-screen
presentation to hundreds of our theatres and thousands of
auditoriums around the country, for a greener way to go to the
movies, with only a minimal capital investment. This partnership
with Cinionic helps ensure that the future of the on-screen
presentation at AMC is, fittingly, very bright.”
“At Cinionic, we’re in this for the long-term. Together with
AMC, we’re giving moviegoers the laser difference that you can only
get in the cinema,” added Wim Buyens, CEO of Cinionic. “Made
possible by our industry-pioneering Cinema-as-a-Service program,
the partnership with AMC enables a consistent, elevated, and
laser-powered big screen experience for the next generation.
Cinionic is dedicated to cinema and investing in its future.”
About AMC Entertainment Holdings, Inc.
AMC is the largest movie exhibition company in the United
States, the largest in Europe and the largest throughout the world
with approximately 950 theatres and 10,500 screens across the
globe. AMC has propelled innovation in the exhibition industry by:
deploying its Signature power-recliner seats; delivering enhanced
food and beverage choices; generating greater guest engagement
through its loyalty and subscription programs, web site and mobile
apps; offering premium large format experiences and playing a wide
variety of content including the latest Hollywood releases and
independent programming. For more information, visit
amctheatres.com.
About Cinionic
Founded in 2018 as a cinema joint venture between Barco, CGS,
and ALPD, Cinionic unites global leaders committed to creating a
new visual standard and moving the cinema industry forward.
Cinionic’s future-ready enhanced services and technology solutions
provide compelling cinema experiences. The company’s world-class
technology portfolio includes award-winning laser projectors, HDR,
integrated media servers, and premium cinema experiences, among
other innovations.
With more than 100,000 projectors installed globally, Cinionic
is trusted by more than 200 exhibitors to help capture audiences at
multiple touchpoints in their cinema journey and keep them coming
back for more. Today, more than half of the world’s movie theaters
are illuminated by Cinionic.
Cinionic has offices in Belgium, the United States, Mexico,
Australia, and Hong Kong. Visit www.cinionic.com for more
information.
Category: Company Release
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220422005397/en/
INVESTOR RELATIONS: John Merriwether, 866-248-3872
InvestorRelations@amctheatres.com
MEDIA CONTACTS: Ryan Noonan, (913) 213-2183
rnoonan@amctheatres.com
AMC Entertainment (NYSE:AMC)
Historical Stock Chart
From Aug 2024 to Sep 2024
AMC Entertainment (NYSE:AMC)
Historical Stock Chart
From Sep 2023 to Sep 2024