RealD Inc. has reached an agreement with Cinemark Holdings Inc. to install an additional 1,500 3-D screens in the chain’s theaters across North America and Latin America.
The Beverly Hills movie technology company said Thursday that the agreement doubles the companies’ previous arrangement to a total of up to 3,000 3-D screens. It will result in RealD 3-D technology installed in half of Cinemark’s auditoriums. Financial terms of the deal with Cinemark of Plano, Texas, were not disclosed.
“The studio 3-D film slate in the coming years is extremely strong and the added RealD 3-D capability gives us the flexibility to accommodate the moviegoer demand for the RealD 3-D experience,” Chief Executive Alan Stock said in a statement.
The expansion comes as investor enthusiasm has cooled for 3D movie-making after box office receipts indicated that cinema-goers haven’t always been willing to pay higher ticket prices to see the 3-D version of a film.
RealD’s shares have fallen 30 percent since the beginning of the year, but Thursday’s news provided a small boost. The stock closed up 23 cents, or 1.7 percent, to $18.27 on the New York Stock Exchange.