QualityStocks would like to highlight Cinedigm Digital Cinema Corp. (NASDAQ: CIDM). The company operates as a digital cinema services, software, and content marketing and distributing company primarily in the U.S., offering technology solutions, financial advice and guidance, and software services, to content owners and distributors and movie exhibitors. It engages in the ownership and licensing of digital systems to theatrical exhibitors, and provides monitoring, billing, collection, verification, and other management services to the company's Phase I Deployment and Phase II Deployment, as well as to exhibitors, who purchase their own equipment.
In the company’s news yesterday,
Cinedigm Digital Cinema announced its first large-scale exhibitor deployment outside the continental U.S. and Canada, executed through a long-term VPF deployment agreement with Caribbean Cinemas. On the heels of a concentrated international expansion effort, the company has made significant international inroads in recent months, including being selected as the digital cinema integrator for independent cinemas in Australia and New Zealand (ICAA), and additionally providing negotiation and technical services for a consortium of Brazilian theaters. The agreement with Caribbean Cinemas marks Cinedigm’s first full-scale international deployment.
Providing its own financing in the Cinedigm exhibitor-buyer deal structure, Caribbean Cinemas will deploy up to 290 Cinedigm-Certified screens, with installation anticipated to be completed this fall. This agreement will facilitate the conversion of theaters to digital cinema, utilizing Cinedigm’s long-term agreements with all the major studios and its ongoing interim agreements with more than 100 independent distributors.
The largest motion picture exhibitor in the Caribbean Islands, Caribbean Cinemas operates 53 theaters with 437 total screens throughout the islands, including Puerto Rico, the Dominican Republic, Aruba, St. Lucia, St. Maarten, Antigua, St. Kitts, St. Thomas, and Trinidad.
Caribbean Cinemas has a long tradition of providing its customers with cutting-edge movie going experiences. Its selection of Cinedigm came after lengthy discussions and an extensive evaluation process, and Caribbean Cinemas concluded that Cinedigm was the best company to provide the outstanding service and state-of-the-art experience its customers have come to expect.
Cinedigm Digital Cinema is a leading provider of the services, experience, technology, and content needed to transform movie theaters into digital and networked entertainment centers. Cinedigm partners with Hollywood movie studios, independent movie distributors, and exhibitors to provide movies in digital cinema format for audiences throughout America. The company’s digital cinema deployment organization, cutting-edge distributor and exhibition software, and marketing and distribution platform for alternative content and independent films serve as a cornerstone of the film industry’s digital cinema transformation. In April 2012, Cinedigm acquired New Video, which is the world’s largest aggregator of independent digital content and a leading distributor of quality entertainment. Through this acquisition, Cinedigm has created a new full-service, end-to-end digital studio, enabling the acquisition and distribution of independent films and specialty content, both theatrically and via digital, mobile, and home media platforms.
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