Idea to Bring us Back to the movies...
Regal plans for 3-dimensional viewing in U.S. theaters
Written by: Jason Townsend-Rogers
Regal Entertainment Group plans to use 3D technology to bring people back to the movies.Cinema executives have a new trick up their sleeve in their fight to bring audiences back to the movies.
This new trick involves the use of 3D screens, a device that will be employed by Regal Entertainment Group, the nation’s largest cinema chain. Theatre executives are hoping that this negotiation will show audiences that they are willing to embrace 3D technology, and thus give them a reason to return to the cinema with their families.
This deal, which is expected to take effect in the next two years, will allow RealD Corporation, the manufacturer of the 3D screens, to possess more than 3,500 screens, enabling it to take the lead in 3D projection technology. As a result, competitors such as Dolby Laboratories will have a difficult time catching up.
Regal’s incentive for pursuing this deal was the premiere of more 3D-based films. Movies such as “Journey to the Center of the Earth” and “Bolt” are expected to involve 3D technology and perform well at the box office. More films are expected to take advantage of this technology in the future.
Theater owners also have the added perk of charging more for ticket prices. According to the Wall Street Journal, "Hannah Montana/Miley Cyrus: Best of Both Worlds Concert Tour," which was in 3D, had theater owners charging a $15 admission fee, which was more than a $5 premium. This premium is balanced out by an increased audience.
As cited in the Wall Street Journal, box-office receipts in North America totaled $9.62 billion, up 5% from 2006, according to the National Association of Theater owners.
RealD’s projection system is expected to cost $25,000 per screen. (www.thecelebritycafe.com)
***I HAVE AN IDEA...QUIT RAISING THE PRICES!!! OR AT LEAST INCLUDE A FREE BUCKET OF BUTTERED POPCORN W/ SODA!!!**