CINEASIA, Macau—Dec 9, 2008
GDC Technology inks VPF financing deals with three Hollywood Studios for exhibitors in Asia
In a move that will accelerate the conversion of cinemas in Asia to digital technology, GDC has reached separate non-exclusive agreements with three Hollywood Studios for digital cinema deployment across Asia. Under these agreements, 20th Century Fox (“Fox”), Paramount Pictures International (“Paramount”), and Universal Pictures International (“Universal”), will be committed to supply Asian exhibitors with feature film content digitally, as well as to make financial contributions towards the hardware cost of DCI-compliant digital cinema equipment deployed by GDC. Phase 1 of the program covers 6000 screens in various countries throughout Asia. Along with its current roll-out in China, this milestone signals GDC’s on-going commitment to Asian exhibitors as a trusted partner in digital conversion. GDC is currently setting its sights on a Phase 2 program, which will cover even more Asian countries.
The conversion of cinemas in Asia to digital technology will enable both exhibitors and distributors to reap substantial benefits of digital cinema: high quality non-degradable prints, new programming opportunities, such as premium digital 3D films, alternative content, and live satellite events, vastly reduced print production and logistics costs, and better protection against piracy.
Julian Levin, Executive Vice President, Digital Exhibition and Non-Theatrical Sales and Distribution, Twentieth Century Fox commented, “GDC’s commitment to the digital transition and roll out of DCI compliant digital projection systems across the Asian markets is very significant. Digital projection will not only provide movie goers with an enhanced theatrical viewing experience but also will provide 3D and alternative programming opportunities which are not possible with conventional analog 35mm film. We are delighted to have closed this deal and look forward to working with our friends and colleagues at GDC to bring this plan to fruition.”
“This is an important milestone event for the Asian digital cinema industry,” said Roger Pollock, Paramount Pictures’ Executive Vice President, International Distribution & Operations. “It will help accelerate the conversion to digital screens across Asia and it will also have a major impact on the availability of 3D projection in the region. We intend to work closely with GDC to quicken the pace of this digital transition.”
David Kosse, President, Universal Pictures International said: “Speeding up the conversion of Asian cinemas to digital technology is an important step forward. Universal is pleased to be working with GDC in the roll out of digital cinema throughout Asia. We look forward to supplying our movies to this new digital platform and giving moviegoers in Asia the highest quality cinema experience ever available.”
“GDC is proud and honored to be the first in Asia to have entered agreements with Hollywood studios,” said Dr. Man-Nang CHONG, founder and CEO of GDC Technology. “These milestone agreements finally offer Asian exhibitors a viable commercial model to finance their digital conversion and put together a sustainable roll out strategy. The support of Fox, Paramount and Universal is a strong endorsement of GDC and its competency in delivering a pan Asian deployment. We are expecting more signings with other studios and independent distributors in the near future.”
