Cinemark Theaters launching big screen installations to vie with IMAX
Cinemark Theaters has announced that it will install its own proprietary big screen system called Cinemark XD in markets where Regal and AMC do not have exclusive licensing arrangments with IMAX. The screens will be 72 feet wide and Cinemark claims they can be used to show any film, 2-D or 3-D, in digital format.
As with Imax, audiences pay $3 or so more per ticket to see 2-D or 3-D movies using state-of-the-art sound as well as the 72-foot-wide screens.
The plan could boost Cinemark’s prospects in cities where rival chains have exclusive deals with Imax.
“Regal (RGC) and AMC have locked up the majority of available markets in the U.S.,” says Merriman Curhan Ford analyst Eric Wold.
Read the whole article in USA Today.