Target is conversion of 2,000 screens across Europe.
Arts Alliance Media and Barco have signed a Memorandum of Understanding to offer a new financial leasing scheme to exhibitors across Europe who are converting to digital cinema.
The fund, the Barco Leasing Program, will offer up to €100m in finance packages for cinemas hoping to convert to digital. ING Lease Belgium is supporting the fund.
The fund will be open to exhibitors of all sizes for the next 18 months. It will make use of Arts Alliance’s existing VPF (virtual print fee) deals with the studios and 100 European distributors.
The target is conversion of 2,000 screens. Barco will supply the equipment and Arts Alliance will provide maintenance and support.
Howard Kiedaisch [pictured], CEO of Arts Alliance Media, said: “One of the critical elements to getting any exhibitor converted to digital is procuring the necessary capital investment and we’re delighted to partner with our friends at Barco to offer a solution to exhibitors throughout Europe. With Europe already over 50% converted, the remaining cinemas who have not yet converted need to move quickly or risk being left behind and we’re encouraging all operators large and small to engage in dialogue with us.”
Wim Buyens, Senior Vice President of Entertainment at Barco added: “We expect this leasing program is going to offer the digital cinema opportunity to more cinemas than ever before. Cinemas working with Barco and AAM under this scheme can trust that they’re partnering with digital experts who will offer the best quality equipment and reliable service to allow them to offer the best experience to their audiences.”
No comments yet