DCIP Funding for exhibitors
DCIP funding is crucial for the growth of 3D.
Beacause the number of screens is still somewhere around 2,000 in the USA and 5,000 worldwide, release windows have become ridiculously short. All recent engagements, from Up, to Coraline have been limited to 2 weeks. Given the current release schedule, James Cameron's much anticipated AVATAR will be available in 3D for 1.8 weeks on average. With the performance figures for most 3D films, this is clearly leaving money on the table.
This $1 billion line of credit from JPMorgan Securities (DCIP) ought to go a long way towards remedying this situation allowing theater owners to upgrade their systems to 20,000 across North America - more than half the total screens.
Heres Variety's take:
http://www.variety.com/article/VR1117993164.html?categoryid=1009&cs=1&nid=2562
Beacause the number of screens is still somewhere around 2,000 in the USA and 5,000 worldwide, release windows have become ridiculously short. All recent engagements, from Up, to Coraline have been limited to 2 weeks. Given the current release schedule, James Cameron's much anticipated AVATAR will be available in 3D for 1.8 weeks on average. With the performance figures for most 3D films, this is clearly leaving money on the table.
This $1 billion line of credit from JPMorgan Securities (DCIP) ought to go a long way towards remedying this situation allowing theater owners to upgrade their systems to 20,000 across North America - more than half the total screens.
Heres Variety's take:
http://www.variety.com/article/VR1117993164.html?categoryid=1009&cs=1&nid=2562
Wall Street Journal:
http://online.wsj.com/article/SB122283741314593631.html?mod=googlenews_wsj
Reuters:
http://www.reuters.com/article/ousiv/idUSTRE4902NW20081001
Heres what DCIP say about themselves:
http://www.dcipllc.com/aboutus.xml
Digital Cinema Implementation Partners (DCIP) is a company owned equally by exhibition industry leaders AMC Entertainment Inc., Cinemark USA, Inc. (NYSE:CNK) and Regal Entertainment Group (NYSE:RGC). Representing more than 14,000 screens in the U.S. and Canada, DCIP is headquartered in Bergen County, NJ with offices in Minneapolis and Denver. DCIP was created in 2007 to plan and implement the deployment of digital cinema during the motion picture industry’s transition from film to digital technology.
The primary benefit of universal implementation of digital cinema distribution and exhibition is the cost savings that result from eliminating the need to print, deliver and retrieve thousands of celluloid film reels per release. With a digital cinema distribution system in place, film studio/distributors will be able to deliver digital content via broadband or satellite links at little marginal cost.
Digital cinema promises a new world of programming flexibility, picture quality and image consistency. It is expected to expand alternative, non-traditional theatre programming, ultimately providing more choices to moviegoers.
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