GDC inks VPF financing deals with 14 major Hong Kong film distributors

December 13, 2011

Source: GDC Technology

GDC Technology (“GDC Tech”), a world leading digital cinema solution provider, is pleased to announce today that GDC Digital Cinema Network Limited (“DCN”) has signed Virtual Print Fee (VPF) agreements with 14 major Hong Kong film distributors, by which those distributors will supply digital movies to theatres in Hong Kong, including Broadway Circuit, Ma On Shan Classic Cinema and UA Cinemas, that have joined GDC DCN’s VPF deployment program.

Distributors who have signed the agreement will pay VPFs to accelerate the digital cinema revolution in Hong Kong. To date almost 90% of the screens in Hong Kong have been converted to digital.

“We are excited to learn that leading Hong Kong distributors have sealed deals with GDC, which will bring more high quality digital movies to theatres and their patrons across Hong Kong,” said Brian Chung, Chief Executive of Hong Kong Motion Picture Industry Association Limited.

“This is an unparalleled milestone in Hong Kong cinema. We are delighted to receive such strong support from all the key Hong Kong distributors, and wish to express our thanks to the Hong Kong MPIA for its role in the promotion of digital cinema in the territory over the years,” said Dr. Man-Nang Chong, founder and CEO of GDC Tech and GDC DCN.

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