RealD and Karo Film Sign Deal to Install 10 “LUXE: A RealD Experience” Auditoriums
October 10 2013 - 7:30AM
Business Wire
Premium Large Format Auditoriums to Feature
Industry Leading Standards for Ultimate Out of Home Entertainment
Experience
Global 3D and visual technology licensor RealD Inc. (NYSE: RLD)
and leading Russian theatrical exhibitor Karo Cinemas announced
today an agreement to install 10 “LUXE: A RealD Experience”
auditoriums in Karo cinemas in key Russian markets. Recently
introduced by RealD as a new Premium Large Format (PLF) initiative,
initial “LUXE: A RealD Experience” auditoriums will be installed at
Karo locations in Moscow and St Petersburg, and are expected to
open this winter. An additional eight “LUXE: A RealD Experience”
auditoriums are expected to be installed at new Karo locations
across Russia and are expected to begin to open at the end of 2Q
2014. All 10 “LUXE: A RealD Experience” auditoriums opened at Karo
locations will feature RealD 3D projection and a RealD Precision
White Screen.
“‘LUXE: A RealD Experience’ auditoriums hold the promise of a
new, unified Premium Large Format brand moviegoers will find
synonymous with the best available cinema experience,” said Michael
V. Lewis, CEO of RealD. “We look forward to working with Karo to
bring the ‘LUXE: A RealD Experience’ brand to life so moviegoers
can experience the assured quality 2D and 3D visuals, audio and
seating that will combine to create the ultimate out of home
entertainment experience.”
“As a leading circuit in the rapidly growing Russian market, we
strive to offer the very best possible movie-going setting for our
filmgoers,” said Paul Heth, CEO of Karo Cinemas. “‘LUXE: A RealD
Experience’ is the perfect initiative to define our 2D and 3D
premium offering. Alongside RealD, we will continue to strive to
provide our audiences a unique, fully immersive, highly technically
advanced visual and sound experience.”
“LUXE: A RealD Experience” is the Premium Large Format (PLF)
initiative introduced by RealD at CineEurope 2013 with the aim of
unifying the exhibition community under a single brand with a goal
of becoming synonymous with the ultimate out of home entertainment
experience. Minimum standards will assure all “LUXE: A RealD
Experience” auditoriums feature massive screens, ultra bright 2D
and 3D, enveloping audio and luxury seating for a premium
movie-going experience. “LUXE: A RealD Experience” auditoriums will
provide full flexibility with content, allowing exhibitors to show
any movie at any time for optimized profitability.
All “LUXE: A RealD Experience” auditoriums will meet minimum
technology specifications to assure a premium cinema experience,
such as: usage of RealD 3D, the industry’s brightest 3D projection
technology; wall-to-wall / floor-to-ceiling screens of at least 16
meters in width; 3D sound; auditorium rakes to optimize patron’s
views and more. Additional exclusive new technologies to be
announced are expected to be incorporated into “LUXE: A RealD
Experience” auditoriums.
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).
About RealD Inc.
RealD is a leading global licensor of 3D and other visual
technologies. RealD’s extensive intellectual property portfolio is
used in applications that enable a premium viewing experience in
the theater, the home and elsewhere. RealD licenses its RealD
Cinema Systems to motion picture exhibitors that show 3D motion
pictures and alternative 3D content. RealD also provides its RealD
Display, active and passive eyewear, and RealD Format technologies
to consumer electronics manufacturers, content producers and
distributors to enable the delivery and viewing of 3D and other
premium content on a variety of visual displays and devices.
RealD was founded in 2003 and has offices in Beverly Hills,
California; Boulder, Colorado; London, United Kingdom; Moscow,
Russia; Shanghai, China; Hong Kong; Tokyo, Japan; and Rio de
Janeiro, Brazil. For more information, please visit our website at
www.reald.com.
About Karo Film
The Karo Film Group was founded in 1997. It established new
standards in Russia for movie theatres. Today, Karo Film is a
leading motion picture exhibition company owning and operating 30
modern movie theatres comprising of 196 screens in Moscow, the
Moscow region, St. Petersburg, Nizhniy Novgorod, Samara, Kazan,
Kaliningrad, Yekaterinburg and Surgut and serves nearly 12 million
visitors per year.
Karo has over 100 screens in active development and construction
slated to open in 2014 to include the two largest film complexes in
Russian cinema history. Karo is led by Moscow based film and media
executive Paul Heth. Karo is owned by Mr. Heth and Moscow based
private equity funds Barings, United Financial Group, Incanto and
the Russian Direct Investment Fund.
Cautionary note on forward-looking statements
This press release includes forward-looking information and
statements, including but not limited to: statements concerning the
anticipated rollout of “LUXE: A RealD Experience” auditoriums
across the Karo circuit and the growth of the 3D cinema industry.
These statements are based on RealD’s current expectations and
beliefs, as well as a number of assumptions concerning future
events. Such forward-looking statements are subject to known and
unknown risks, uncertainties, assumptions and other important
factors, many of which are outside RealD’s control that could cause
actual results to differ materially from the results discussed in
the forward-looking statements. RealD’s annual and quarterly
reports include a more detailed discussion of the risks and
uncertainties that may cause that could cause actual results to
differ materially from the results discussed in the forward-looking
statements.
RealD undertakes no obligation to update publicly the
information contained in this press release, or any forward-looking
statements, to reflect new information, events or circumstances
after the date they were made, or to reflect the occurrence of
unanticipated events.
Media Contacts:Olivia Read (DDA for RealD Europe)+44
(0)20 7932 9800RealD@ddapr.comorIgor Gorshkov (Karo)+74959808891
Ext. 4150pr@karofilm.ruorOlga Chirikhina (Karo)+74959808881 Ext.
4098o.chirikhina@karofilm.ruorRick Heineman (RealD
USA)310-385-4020rheineman@reald.comorInvestor Contact:Andrew
Greenbaum / Laura Bainbridge
(RealD)310-829-5400investors@reald.com
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