What exactly does a company that just posted a quarterly loss in revenue do? Expand, dummy! At least, that is the latest move from RealD.
The 3D screen licensor we’re all probably familiar with (since they’ve been around in the U.S. since 2003) just signed an agreement with Chinese exhibitor UME International Cineplex. RealD will reportedly install 50 new 3D screens across locations in northern China.
Additionally, UME is said to be operating 22 cinemas, 253 screens and 31,700 seats, with box office revenue estimated to hit $100 million dollars by the end of this year.
RealD, the Beverly Hills-based company, is currently available on 1,000 screens in China, and they have commitments to expand to nearly 2,300 screens in the future. China is apparently adding movie screens at a rate of eight to nine per day, and the current total is expected to double by 2015.
Greg Fischer, @guru_apprentice