I really hope that we get a couple of IMAX screens at TLS AMC, plus at least a few screens of digital projection instead of 35MM. Movie complexes are hurting financially, they need to compete with large High Definition TV panels and 5.1 channel audio systems that many of us have at home.
This is not directly related to TLS, but to AMC
From the NY Times
LOS ANGELES, Dec. 6 — Imax and AMC Entertainment are teaming up to open
100 Imax theaters, doubling the number of large-format 3-D outlets in
the United States and adding momentum to Hollywood’s growing interest
in the genre.
The deal involves equipping 100 of AMC’s existing auditoriums with
next-generation Imax projection systems, which rely on digital images
rather than film and are meant to provide an immersive viewing
experience.
Imax will shoulder the expense of the projectors, which cost about
$500,000 each. AMC, one of the world’s largest movie theater chains,
will pay to retrofit auditoriums in top-performing movie complexes in
33 cities, reconfiguring the seats and enlarging the screens.
The partnership comes as Hollywood rushes to churn out 3-D movies.
Steven Spielberg and Peter Jackson have agreed to direct and produce a
trilogy of 3-D movies about Tintin, the Belgian comic book hero.
DreamWorks Animation recently announced that it would distribute
several future movies in 3-D, including “Shrek Goes Forth.†James
Cameron’s coming “Avatar†is being prepared in 3-D.
In gearing up more theaters, Imax and AMC are chasing different goals.
AMC, which is based in Kansas City, Mo., is trying to battle an
industrywide slump in attendance while squeezing out more revenue from
existing auditoriums. Because Imax tickets cost an extra $2 to $4, the
conversion should increase revenue in the converted auditoriums by one
third, according to Peter C. Brown, the chief executive of AMC.
For Imax, the joint venture carries extra weight. The company, with
headquarters in New York and Toronto, has struggled to expand into
mainstream movie theaters from its roots in science and history
museums. Although it has persuaded some movie studios to release Imax
versions of their regular films, Imax has recently suffered loses
associated with regulatory inquiries into its accounting methods.
In restated filings last month, Imax reported a loss of $16.8 million
on revenue of $129.5 million for 2006. Also in 2006, an effort to sell
the company faltered when no buyers offered the price Imax was seeking.
The deal with AMC, which is expected to add up to $35 million a year in
additional cash, will go a long way toward stabilizing the company,
said Bradley J. Wechsler, the co-chief executive of Imax. “This is
transformational for us from a strategic point of view,†he said. AMC
and Imax said they will divide the revenue from the theaters according
to a pre-existing formula that they declined to describe.
Imax’s digital projection systems are new. Until now, Imax has relied
upon equipment that translated film into 3-D projections and was so
costly and clunky that it squelched demand.
As the technology improves, the movie business is pursuing 3-D as a way
to beat competition for leisure time from home theaters, the Internet
and video games. The move comes from the cinematic playbook of the
past: During the mid-1950s, studios released 3-D films like “House of
Wax†and “Bwana Devil†in large part to lure audiences away from the
upstart medium of television.
Recent results for films exhibited in 3-D have intensified interest.
“Beowulf,†a fantasy adaptation of the classic tale, was released on
Nov. 16 in three formats: standard, Imax and one called “digital 3-D.â€
The film sold about $27.5 million in tickets at United States theaters
in its opening weekend, according to Media by Numbers. Imax made up
$3.6 million of the total, or 13 percent.
Imax releases in the past have typically contributed less than 5
percent of the gross. “There is no longer a question about the
viability of 3-D,†said Paul Dergarabedian, president of Media by
Numbers.
Studios greeted the deal with enthusiasm. “This gives Imax a national
footprint they never had before, including in the suburbs, and is great
for studios looking to distribute titles in 3-D,†said Dan Fellman,
president of theatrical distribution at Warner Brothers.
Still, Imax is not home free. As digital projectors arrive at more
theaters — about 4,000 screens in the United States are now equipped
with the technology — a group of competing 3-D purveyors has sprung up.
Most aggressive is Real D, a maker of equipment to upgrade digital
projectors to show 3-D film.