Paramount Steps up Subsidies for Conversions to 3-D Screens

The Vault is going to take a quick time-out from Oscar coverage to report the latest news bulletin regarding the ongoing project to make theaters nationwide be capable of screening 3-D films. In October, five major film studios signed a contract with three major distribution chains to help pay for the cost of these enhancements. Now Paramount, one of the original five, has gone even further in the assistance it is offering in order to combat the effects of the economic downturn. According to Variety, this new deal bypasses the chain conglomerates of AMC, Cinemark, and Regal Cinemas and instead goes straight to individual theatres, offering to what is called a "'virtual' print fee." Theatres will be rewarded if they convert "at least 50% of screens to digital," with more money offered if those screens are also capable of 3-D projection.


This move comes just a few months before the release of Monsters vs. Aliens, a film that will utilize the 3-D technology. Paramount is obviously hoping that the investment into theatres now will bring in substantial profits later, as box office receipts for three-dimensional prints versus "flat" two-dimensional prints of films has been noticebly higher. Add to that fact that there is a wave of 3-D films due out over the next few years (Variety notes that there are twelve this year alone, while last year there were two) and it stands in the best interest of studios and theatres alike to see that they are ready to meet the coming film season.