NEW YORK—Mar 29, 2005
Loews Cineplex Entertainment Joins Screenvision's Digital Network
Deal Commits Screenvision to Digitize Loews Cineplex Entertainment's Major Market Theatres; Underpins Screenvision's 5,000 Screen National Digital Roll-out
Screenvision, the world leader in cinema advertising, today announced that it
has extended its long-standing partnership with Loews Cineplex Entertainment
Corporation, the premier major market movie-theatre circuit. Under the
agreement, Screenvision is funding and installing its High Definition digital
cinema advertising management system in select Loews Cineplex Entertainment
theatres within the top 25 DMAs.
The agreement also continues Screenvision's exclusive rights to on-screen slides
and rolling stock advertising on Loews Cineplex Entertainment's 1,424 screens
across the country, including 148 Star Theatre screens in the Detroit area and
30 new screens to open later this year.
"Without question, Loews is one of the most prestigious movie houses and we are
delighted to grow our partnership," said Matthew Kearney, CEO of Screenvision.
"We are extending our digital network to their top-tier theatres and believe
that, together with Mann, Colorado Cinemas and Malco, we are keeping our promise
to the exhibition and advertising communities to rapidly build out our digital
network in top markets and in high-quality theatres."
Earlier this month, Screenvision initiated a 24-month plan to build a High
Definition digital cinema advertising network consisting of more than 5,000
screens nationwide.
"We feel that there are a lot of strengths to our major market presence,"
commented Travis Reid, CEO of Loews Cineplex Entertainment, "and that these
assets will be optimized, when part of the leading cinema advertising network.
Screenvision brings us their successful track record in revenue generation as
well as their commitment to digitize our theatres, a powerful combination."
Screenvision will introduce its digital network across Loews Cineplex
Entertainment theatres in New York, Los Angeles, Chicago, Philadelphia, Boston,
San Francisco, Dallas, Washington DC, Detroit, Seattle, Orlando, Pittsburgh and
Baltimore. The operational backbone of the network, SkyArc™, is a secure High
Definition digital cinema advertising inventory management and satellite-based
delivery system created and managed by Thomson through its Technicolor Digital
Cinema business.
"Our job is to provide a complete, turnkey range of advertising services for our
exhibitor partners," said Darryl Schaffer, Executive Vice President, Theatre
Operations and Exhibitor Relations, for Screenvision. "Through the
implementation of our digital network and preshow, we can drive increased
revenue for Loews while helping to improve the overall movie-going experience of
their customers."
The self-titled Screenvision Digital Preshow began airing in Mann theatres March
4, 2005. The hosted program includes a mix of entertainment content, exhibitor
content and local and national advertising and runs in advance of movie previews
and the film.
"Screenvision has been a very valuable partner for Loews, and we feel that their
approach to the preshow will not only enhance the movie-going experience, but
generate greater revenue and increase the opportunities for current and future
advertising partners," said John McCauley, Senior Vice President, Marketing, of
Loews Cineplex Entertainment.
