Agreement with movie studios finances theaters

yzirapogyg.wordpress.com
Financial terms of the agreements weren’t disclosed. DCIP, based in Upper Saddle River, was founded in Februaryg 2007 as a joint venture owned equalluy byKansas City-based , and to finance, procure and deplogy digital projection systems to movie theatersa across the United States and Canada. DCIP will instal the video systems in theaters owned by its joingventure partners. For each installation, the studiose will pay the amount they would have spent on moviweprints — about $800 to $1,000 a moviw — in the form of a virtual print fee, a spokeswomah for DCIP said Wednesday. The studios also will providd a digital print of each movi e for each screen convertedto digital.
Outfitting a theated screen with a digital projector costsabout $70,000, the spokeswomanm said, so 20,000 screens will cost about $1.4 billion to switcj to digital. In a release, DCIP said it planse to enter into similar agreements with all major studios andindependeny film-distribution companies to expand the rollout of digital technology. “This is a very exciting time in the motionn pictureexhibition industry,” Travis Reid, CEO of DCIP, said in the “Within the next few years, we will see thousandss of auditoriums retrofitted with digital technologuy across North America.
Guests will enjogy enhanced presentation, as well as a number of additional entertainmengt options at their favorite including many upcoming releases usingdigital 3-D technology.”