Press Release
Paris (France) – 1 July 2019, 8:00 am
YMAGIS: AGREEMENT WITH FRENCH CINEMA EXHIBITOR MEGARAMA FOR 110+ BARCO LASER PROJECTORS
Ymagis Group (FR0011471291, MAGIS, PEA-PME), the European specialist in digital technologies for the cinema industry, today announced the signing of a large-scale agreement between its CinemaNext France subsidiary and French cinema circuit Megarama for a minimum of 110 state-of-the-art Barco Laser projectors at 15 of the circuit’s current sites and upcoming new cinema builds through 2021. Per the agreement, CinemaNext will oversee the replacement of “Series 1” digital projectors in all Megarama-branded cinemas located in France, Spain and Morocco.
“We’ve enjoyed a lengthy partnership with CinemaNext and are very excited to be undertaking this important renewal project with their skilled teams,” explains Jean-Pierre Lemoine, President and CEO of Megarama Group. “As we continue to invest in the modernization of our cinema equipment, we will roll out over 110 Barco Laser projectors over the next two years. At a time when moviegoers are increasingly discerning, it is part of our strategy to further elevate the image quality in our cinemas to provide our audiences with the best moviegoing experience.”
For Georges Garic, Senior Vice President of CinemaNext, “Over the years, we have witnessed the fast-growing success of Megarama, which is now a prominent EMEA cinema exhibitor - the 5th largest operator in France and the first in Morocco in terms of ticket sales. It’s a great honor for us to work with Jean-Pierre Lemoine and his Chief Operating Officer, Joseph Vacrin, on modernizing their facilities to offer consumers a premium experience and significantly lower operating costs. This deal, which consists primarily of equipment distribution, installation and maintenance, represents anticipated revenues for CinemaNext of over EUR 10 million over the next two years.”
“We are thrilled to be working with our longtime cinema partner Megarama on the deployment of next-generation digital projection technology,” explains Olivier Douet, CinemaNext Sales Director (France) and Country Manager for Switzerland. “With many Series 1 projectors nearing the end of their expected lifetimes, this provides a tremendous opportunity for exhibitors to enhance their offer with visually-spectacular screenings while moving toward more cost-efficient and environmentally-friendly operations.”
ABOUT CINEMANEXT
CinemaNext is the Ymagis Group’s business unit dedicated to exhibitor services. Founded in 2007 and managed by professionals from the motion picture and high-tech industries, Ymagis Group is a European leader in advanced digital technology services for the cinema industry. The company’s core business is structured around four main units: CinemaNext (exhibitor services: distribution, customer services and field services), Eclair (content services: post-production, theatrical delivery, digital distribution, versioning and accessibility, restoration and preservation) and Others (Illucity and Virtual Reality). A publicly-traded company listed on Euronext, Ymagis Group is headquartered in Paris (France) and has close to 830 employees. For more information, please connect to https://www.ymagis.com or https://www.cinemanext.com
ABOUT MEGARAMA GROUP
The Megarama Group is made up of 30 cinemas representing 226 screens in France, Spain and Morocco. Megarama recorded 5.3 million cinema admissions in France in 2018, making it the 5th largest cinema operator in the country. Megarama was founded in 1950 by Jean-Pierre Lemoine, an ardent supporter of the motion picture industry. The Group is committed to the highest quality moviegoing experience ranging from auditorium raking and legroom to giant screens, Dolby Atmos sound, High Frame Rate (HFR) screenings and Laser projectors. The Group also ensures wheelchair accessibility in its auditoriums while sustainable development is at the heart of its eco-design approach.
| ABOUT YMAGIS GROUP Ymagis is a European leader in advanced digital technology services for the cinema industry. Founded in 2007, the Group is headquartered in Paris and has offices in 26 countries with 830 employees. Our core business is structured around four main units: CinemaNext (exhibitor services: sales and field services, software solutions, customer service/NOC), Eclair (content services: postproduction, theatrical delivery, digital distribution, versioning and accessibility, restoration and preservation), Virtual Print Fee (VPF) for finance solutions and other activities, including EclairColor and Virtual Reality. For more information, please visit www.ymagis.com, www.cinemanext.com or www.eclair.digital YMAGIS is listed on Euronext Paris and is part of the CAC Small, CAC Mid and Small and CAC All-Tradable indices. | |
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