3-D in Asia ... Movie Gallery Heads for Bankruptcy Protection
"Asia is somewhat in the same position as Europe is in," [Real D CEO Michael] Lewis said. "The digital business arrangements have not been worked out, and you are dealing with more indigenous content, which means that more of the digital projector has to be paid for by the exhibitors."
Lewis estimates that 3-D digital cinema installations include roughly 14 installations in Korea, 16 in Australia and three in Japan. Other sources put the number of 3-D screens in Korea, where chains like CGV and Lotte have led the transition, as high as 20.
There's also a passing mention of In-Three, a company that wants to "dimensionalize" conventional movies. They still haven't announced their first project, despite having launched in 2005. About time, guys?
- It's not a great time to be in the video store business. The Wall Street Journal reported Friday that Movie Gallery (which owns Hollywood Video) is about to file for bankruptcy protection, hoping to emerge in early 2008. You'll recall that Movie Gallery bought the MovieBeam set-top box service back in March.
MovieBeam's Web site, interestingly, has been down for maintenance for almost two weeks. That must mean the service is doing really well. From the site: "Normal operation will return no later than the end of the day on Wednesday October 3rd."