7 Sep 2010 07:00
CINEWORLD GROUP PLC (the "Company")
Digital Cinema Media Limited signs contract with Vue
Cineworld Group plc, the UK's only quoted cinema group, is pleased to announce that its joint venture screen advertising company, Digital Cinema Media Limited ("DCM"), has entered into a contract with Vue Entertainment Limited ("Vue") for the provision of services in respect of on screen advertising.
The contract, which covers all Vue Cinemas throughout the United Kingdom, will be effective from 1st January 2011 when the existing arrangements that Vue has in place regarding cinema screen advertising expire. Vue currently has approximately 23% of the UK cinema market (National Box Office Revenue 2010 - Source EDI Rentrak).
DCM is a JV partnership between Cineworld and Odeon cinemas, formed in July 2008, to provide services in respect of on screen advertising in cinemas.
Steve Wiener, CEO of Cineworld, commented: "Today's news is an exciting development for DCM: we anticipate DCM benefiting from economies of scale over the mid to long term. DCM is driving innovation within the UK cinema advertising sector and this contract will reinforce the Group's reputation within the industry."
For further information:
Elly Williamson 020 7920 2339
M:Communications