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Cinedigm Digital Cinema Passes 10,000 Digital Screen Signings Mark(January 10, 2012)
WOODLAND HILLS, CA -- (Marketwire) -- 01/10/12 -- Cinedigm Digital Cinema Corp. (NASDAQ: CIDM) today announced it has signed more than 10,000 digital cinema screens in its combined Phase One and Phase Two digital cinema deployment. In total, given the company's previously contracted agreements, Cinedigm will deploy nearly 33% of all digital cinema screens in North America.
"Passing the 10,000 mark in digital screen conversion contracts is a huge milestone for both Cinedigm and the entire exhibition industry," said Cinedigm Chairman and Chief Executive Officer Chris McGurk. "This digital transformation has created a tremendous paradigm shift that will have long-lasting ramifications on all aspects of the theatrical industry. From the types of content shown in theatres, including LIVE 3D events and ongoing programs, to the overall management efficiencies and analytical information offered by digital theaters, digital conversion provides studios and theater companies with an entirely novel way of providing entertainment to the film-going community."
In the combined Phase One and Phase Two digital cinema deployment program, Cinedigm has:
- Signed 10,007 screens overall
- Installed 8,750 digital screens
- Signed digital screens deals with 180 exhibitors
Gary Loffredo, Cinedigm's President of Digital Cinema Services, praised the company's recent success. "Our growing exhibitor partner-base has made it clear that Cinedigm is the number-one choice for exhibitors to entrust with their digital cinema program," he said. "With just over seven months remaining before the end of our rollout period in September 2012 per our studio agreements, we expect this enthusiasm and momentum in digital conversion to continue during the coming months."
Cinedigm is a leader in providing the services, experience, technology and content critical to transforming movie theaters into digital and networked entertainment centers. The Company partners with Hollywood movie studios, independent movie distributors, and exhibitors to bring movies in digital cinema format to audiences across the country. Cinedigm's digital cinema deployment organization, state of the art distributor and exhibition software, and marketing and distribution platform for alternative content and independent films are a cornerstone of the digital cinema transformation. Cinedigm and Cinedigm Digital Cinema Corp are trademarks of Cinedigm Digital Cinema Corp www.cinedigm.com
ABOUT CINEDIGM DIGITAL:
Cinedigm's Digital Cinema division is the industry-leading deployment program for digital cinema. The Digital Cinema division facilitates the funding, installation and operations support, along with ongoing Virtual Print Fee (VPF) administration, for the company's digital cinema rollout plans throughout the United States and Canada. Cinedigm, which has signed long-term VPF agreements with all the major studios and interim agreements with dozens of independent distributors, is also the digital cinema integrator partner for the Cinema Buying Group, a buying program of the National Association of Theatre Owners (NATO) for independent theatre operators in the United States and Canada.
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