Arts Alliance Media Strike Digital Cinema
Deal with Yelmo
August 12, 2010
Source: Arts Alliance Media
In what is the largest digital cinema deal
to date in Spain, Arts Alliance Media (AAM) and Yelmo Cines
have reached an agreement to digitise Yelmo’s 31-strong
chain of cinemas, in a move which is set to dramatically increase
the number of digital and 3D screens in the country. The arrangement
includes all the financing to procure the equipment, allowing
the rollout to begin immediately.
Yelmo, Spain’s leading local exhibitor, will install
digital systems in 370 screens under this deal. In Phase One
of the rollout, at least half of Yelmo’s screens at each
location will be converted to digital, with the remainder
to be installed over the following months.
Today’s announcement follows the deals struck between
AAM and Yelmo over the past two years under which several
screens have already been installed. AAM has recently announced
the opening of an office in Barcelona to represent AAM’s
business in the Spanish and Portuguese markets.
The installation and maintenance will be carried out by AAM
in conjunction with local Spanish integrator Grupo Kelonik.
All screens will be 3D capable and will receive AAM’s
Theatre Management System software and library management
server. Sites will also be equipped with satellite receivers
in cooperation with AAM’s partner Arqiva for the receipt
of digital prints and live events.
The rollout will be achieved with financing provided by AAM
through a €50m investment from funds advised by Sankaty
Advisors, LLC, the credit affiliate of Bain Capital, LLC,
for digital cinema conversion, announced earlier this year.
The deployment with Yelmo in Spain is AAM’s seventh announced
territory following deals in the UK (Cineworld and Reel),
France (CGR), Italy (The Space), Holland (ABC), Denmark (Denmark
Digital) and in Norway via its JV Nordic Digital Alliance.
Fernando Evole, CEO of Yelmo Cines, said “The results
we have had from digital cinema over the last 2 years, particularly
in terms of bringing 3D to customers and also in the opportunities
brought to us from alternative content, have convinced us
to digitise our entire circuit. Our experience with Arts Alliance
Media has also proven to us that they are the right long term
partner.”
Howard Kiedaisch, CEO of Arts Alliance Media, commented, “Yelmo
has been a leader in digital not only in Spain, but also in
Europe and has always provided the best experience to their
customers. We have enjoyed a great working relationship with
Fernando and his team, and are thrilled to be selected to
work with them going forward.”
Spain currently has around 300 digital screens, approximately
80% of which are 3D-ready.
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