RealD and Cinemark renew 3D agreement
Cinemark Holdings, Inc. , one of the largest and most diverse motion picture exhibitors in the world, has renewed its 3D agreement with RealD across its global platform through December 2022. In addition, Cinemark committed to installing RealD 3D systems in all new-build theatres during the term of the extension.
The announcement was jointly made by Mark Zoradi, Cinemark’s CEO, and RealD’s Travis Reid, president of Worldwide Cinema and CEO of RealD.
Cinemark was an early champion of the 3D format and one of RealD’s first major customers when the company launched in 2005. RealD pioneered digital 3D cinema and today has the world's largest 3D cinema platform. There are currently more than 3,000 RealD projection systems installed in Cinemark theatres.
“Cinemark is thrilled to extend our strategic partnership with RealD,” said Mark Zoradi, Cinemark’s CEO. “We continue to believe the visual effects of 3D can enhance the on-screen action and further immerse moviegoers into the developing storyline of the film. RealD’s technology is first-rate and we value the collaboration with them over the years to ensure Cinemark is among the best and the brightest 3D technology in the industry.”
“Cinemark was an early advocate of RealD; their loyalty and commitment has never wavered as they recognized the excitement and added value 3D brings to their theatres,” said RealD’s Reid. “Their long-standing relationship with us is predicated on the highest level of customer satisfaction and demand in their RealD equipped locations. We are extremely pleased to continue collaborating with the Cinemark team as they consistently seek dynamic ways to move the business forward and enhance the overall moviegoing experience.”
RealD’s dominant market share is comprised of a network of theatres that include nearly 30,000 installed screens with a backlog of 3,000 additional contracted installations in 75 countries with over 1,200 exhibition partners.
Cinemark is a leading domestic and international motion picture exhibitor, operating 533 theatres with 5,959 screens in 41 U.S. states, Brazil, Argentina and 13 other Latin American countries as of Dec. 31, 2017. For more information, visit investors.cinemark.com.