The movie theater industry, like the motion picture industry, is going through a technological revolution. People are well aware of the rapidly growing use of computer generated imagery to make impossible images possible, together with the use of 3D, advanced sound developments, and other technologies to draw the viewer into the action. These are all part of a transformation in the motion picture industry. What is less known, but no less important, is a transformation taking place in the movie theater industry, led by companies like Digital Cinema Destinations, a rapidly growing New Jersey based operator of theaters currently in 6 states.
Digital Cinema Destinations, also known as Digiplex Destinations, is leveraging the ongoing movement to digital content distribution as an opportunity to redefine the role of the local movie theater, from simply a place to watch movies to a much broader digital entertainment environment, offering live sports events, concerts, conferences, operas, auctions, fashion shows, and even videogames. By applying an aggressive acquisition-based growth strategy, the company acquires and transforms existing operations, introducing new ways to drive business during the week, attract wider audiences (capitalizing on social media and targeted marketing), and provide immersive digital programming.
Digital Cinema already operates 178 screens in California, Arizona, New Jersey, Connecticut, Ohio, and Pennsylvania, and has plans to continuously grow their national footprint. The company’s fiscal second quarter 2013 revenues recently came in at seven times that of the same quarter in fiscal 2012. In addition, Vista Partners recently announced initiation of coverage, targeting a price approximately 45% over current levels.
For more information on Digital Cinema Destinations, visit www.DigiplexDest.com
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