NEC DISPLAY SOLUTIONS, CINEDIGM ACHIEVE MILESTONE IN DIGITAL CINEMA
Cinedigm Deploys NEC Theater Projectors for More than 2,000 Exhibitor Screens as Part of Digital Cinema Conversion Initiative
CHICAGO – April 23, 2012 – NEC Display Solutions of America, a leading provider of commercial LCD displays and projector solutions, announced today that its partnership with Cinedigm has yielded the digital cinema conversion of more than 2,000 exhibitor screens using NEC digital cinema projectors.
NEC offers a complete line of digital cinema projectors, including the NC1200C, NC2000C, NC3200S and NC3240S models. NEC digital cinema projectors are Digital Cinema Initiatives (DCI) compliant and High Frame Rate upgradable, which allow exhibitors to capitalize on current and future growth opportunities. These projectors can be centrally managed, freeing up on-site theater personnel for more strategic activities.
Cinedigm (NASDAQ: CIDM), the global leader in digital cinema conversion programs, is responsible for structuring and implementing the underlying VPF (virtual print fee) agreement that enables the conversion to digital cinema, as well as providing the entire administration responsibility of the VPF program.
“Our strong partnership with Cinedigm is groundbreaking and has guided the steady transformation of an entire industry to digital,” said Pierre Richer, President and COO of NEC Display Solutions. “We’re grateful to the many exhibitors who have entrusted us with enriching the experiences of their patrons.”
NEC Display Solutions and Cinedigm have partnered to provide financing for exhibitors to complete the digital cinema conversion. Besides NEC Display’s commitment to fund the transition, fellow subsidiary NEC Financial Services has invested in the Cinedigm funding program – in addition to its own financing programs. Currently, those exhibitors who have chosen NEC projectors as part of their system conversions represent more than $80-million of the overall capacity of the Cinedigm Phase 2 deployment.
“We are pleased that through our work with NEC, we have found a solution that assists so many exhibitors in their conversions to digital, allowing them to take advantage of the new theater experience digital cinema enables,” said Gary Loffredo, President of Digital Cinema and General Counsel at Cinedigm.
NEC Display Solutions (Booth No. 2717) and Cinedigm (Booth No. 2116) will exhibit at CinemaCon, the largest annual gathering of cinema owners and operators around the world, from April 24-26 at Caesars Palace in Las Vegas, Nev.