INSIDE INFORMATION - REGULATED INFORMATION
Kortrijk, Belgium, 18 December 2019, 06:00 pm CET - Cinionic, the Barco cinema joint venture illuminating more than half of the world’s movie theaters, announces an exclusive long-term strategic laser agreement with Cinemark Holdings, Inc. (NYSE: CNK), one of the world’s largest movie exhibitors, operating more than 6,000 screens. During the 10-year deal, Cinionic will upgrade Cinemark’s chain with award-winning Barco Series 4 laser projectors and integrated Barco Alchemy media servers. The transformation of Cinemark’s fleet in the United States and Latin America into state-of-the-art, laser-powered entertainment destinations further solidifies both companies’ commitment to elevating the movie-going experience.
Following the digital cinema revolution, the companies enabled an enhanced visual experience on thousands of screens. More than seven years ago, Barco pioneered laser technology for the cinema industry and has continually invested in the solution, building to more than 20,000 laserpowered screens around the world. Today, Cinionic and Cinemark renew their commitment to the future of cinema, their partnership, and laser to power the next generation.
“We are extremely pleased to continue our decade-long relationship with Cinionic, a trusted and valued business partner,” stated Damian Wardle, EVP Technology Operations & Presentation. “Key considerations in the selection of Cinionic’s and Barco’s laser technology included the quality of the presentation, as well as the best overall cost of ownership and maintenance over the long-run.”
Since its debut at CinemaCon 2019, Series 4 has powered the laser renewal in the cinema industry with patented technologies and stunning 4K image-experiences. Harnessing the power of laserprojection from Cinionic, Cinemark benefits from significant cost-savings and a reduced carbon footprint with 80% less power consumption and no more waste from lamps. The laser transition offers millions of moviegoers a greener way to go to the cinema.
Wim Buyens, CEO of Cinionic, commented, “This landmark partnership marks the single largest circuit upgrade to laser, setting a new visual standard for moviegoers. Honoring our joint achievements, we are spearheading the renewal wave in cinema. This is a watershed moment for the industry, 2019 is the year laser became the new norm for cinemas around the world.”
Cinemark consistently reports the highest attendance per screen among leading exhibitors due to its continuous efforts to enhance its in-theater quality, services and amenities, including stunning and consistent visual experiences. The fully integrated Cinionic solution for Cinemark will deliver vivid colors, sharp focus, and brighter cinema projection for a future film slate that includes highly anticipated Hollywood titles in 2020 such as Wonder Woman 1984, Disney’s Mulan, Marvel’s Eternals, and Pixar releases Onward and Soul.
Headquartered in Plano, TX, Cinemark (NYSE: CNK) is one of the largest and most influential movie theatre companies in the world. Cinemark’s circuit, comprised of various brands that also include Century, Tinseltown and Rave, operates 549 theatres with 6,086 screens in 41 states domestically and 15 countries throughout South and Central America. Cinemark consistently provides an extraordinary guest experience from the initial ticket purchase to the closing credits, including Movie Club, the first U.S. exhibitor-launched subscription program; the highest Luxury Lounger recliner seat penetration among the major players; XD - the No. 1 exhibitor-brand premium large format; and expansive food and beverage options to further enhance the moviegoing experience. For more information go to https://investors.cinemark.com/
Founded in 2018 as a cinema joint venture between Barco, CGS, and ALPD, Cinionic unites global leaders committed to creating a new visual standard and moving the cinema industry forward. Cinionic’s enhanced services and technology solutions provide compelling cinema experiences for today, future-proofed for tomorrow. The company’s world-class technology portfolio includes award-winning laser projectors, HDR, integrated media servers, and premium cinema experiences, among other innovations. With more than 90,000 projectors installed globally, Cinionic is trusted by more than 200 exhibitors to help capture audiences at multiple touchpoints in their cinema journey and keep them coming back for more. Today, more than half of the world’s movie theaters are illuminated by Cinionic. Cinionic has offices in Belgium, United States, Hong Kong, and Mexico.
Visit www.cinionic.com and follow us Twitter, LinkedIn, Facebook or YouTube for more information.
Barco designs technology to enable bright outcomes around the world. Seeing beyond the image, we develop visualization and collaboration solutions to help you work together, share insights, and wow audiences. Our focus is on three core markets: Enterprise (from meeting, classroom and control rooms to corporate spaces), Healthcare (from the radiology department to the operating room), and Entertainment (from movie theaters to live events and attractions). In 2018, we realized sales of 1.028 billion euro. We have a global team of 3,600 employees, whose passion for technology is captured in 400 granted patents.
For more information, visit us on www.barco.com, follow us on Twitter (@Barco), LinkedIn (Barco), YouTube (BarcoTV), or like us on Facebook (Barco).
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