CLARIFICATION: There is no agreement to raise $700 million needed for converting theaters to digital. Access Integrated Technologies is putting out the message that if theaters use their digital theater systems, they have movie studios ready to help reimburse this conversion expense through “Virtual Print Fees”. The movie studios are NOT the ones who will be covering the conversion investment.
We have an exciting interview in the works that should be out today or tomorrow. In the meantime, I got some summary material forwarded to me from ShoWest in reference to stereoscopic 3D movies. See what you think:
“It is nothing less than the greatest innovation that has happened for all of us in the movie business since the advent of color 70 years ago,” said Jeffrey Katzenberg, Chief Executive of Dreamworks Animation.
Just prior to his presentation, it was announced that more than 10,000 theaters will be converted to digital. Digital is a key contributor for making S-3D movies possible because of easier distribution and better visual quality. At the show, Access Integrated Technologies announced that they are financing this growth through agreements with four studios including Disney, 20th Century Fox, Paramount, and Universal Pictures. This conversion will cost as much as 700 million dollars.
There are at least THIRTY more S-3D movies expected from Hollywood, but there are trade-offs:
Only 10% of the estimated 38,000 screens in the U.S and Canada have been outfitted with digital technology, and only1,040 of these screens are now outfitted to show S-3D movies.
With limited theater space to go around, DreamWorks Animation pushed back their release of “How to Train Your Dragon” to March 2010 to avoid competing for 3-D screens with James Cameron’s “Avatar.”
Do you agree with this quote by Katzenberg: “Now it’s our chance to deliver something that is far superior than anything that can be done in the home”?
Post your thoughts HERE!