Ymagis, Already Leader In France And Germany, Is Strengthening Its Presence In Spain
Signature of the new digitization agreement with a major independent movie theater exhibitor
Opening of an YMAGIS digital laboratory in Barcelona
YMAGIS (ISIN: FR0011471291, Ticker code: MAGIS), the digital technologies specialist serving the movie industry, announces two major steps in the implementation of the development plan presented at its initial public offering on the NYSE Euronext exchange: the signature of a digitization agreement with a large Catalan independent movie theater exhibition network with 8 cinemas and 51 theaters and the opening of a digital lab in Barcelona.
YMAGIS was present from 24-27 June 2013 in Barcelona, the location of its subsidiary, YMAGIS Spain, at the CinéEurope event, the largest European cinema exhibitors’ event. At the event, the Group signed an agreement with Balaña, an entity operating 51 theaters in Barcelona, 12 of which have already switched to digital through YMAGIS, or are in the process. The contract stipulates the digitizing of all of the remaining 39 theaters by YMAGIS.
With this contract, YMAGIS is now the exclusive partner of Balaña in the domain of digitization and will assist the company in its digital switch-over of all of the theaters under its control, both in terms of financing and technical services. All of the theaters will be converted to digital in 2013.
YMAGIS is already the market leader in France and Germany; the company is strengthening its position in Spain with conversion contracts for over 770 theaters, with 390 switch-overs already completed.
YMAGIS also took the opportunity to introduce its digital laboratory at the CinéEurope event, opened recently in Barcelona. Like its rue La Boétie lab in Paris, the Group will use this new location to offer advanced technical services to local producers and distributors, as well as to the subsidiaries of US studios located in Spain. These services include calibration, special effects, mastering, duplication, delivery and content encryption.
With this step, YMAGIS is achieving new benchmarks along its quest to become the leading digital services and technologies provider in Europe for the movie industry.