News & Press
Pacific Theatres and Screenvision Announce Exclusive
New York and Los Angeles - (Jan. 19, 2004)
Pacific Theatres and Screenvision, the world leader in cinema advertising and a joint venture of Thomson (Euronext: 18453) (NYSE: TMS) and Carlton Communications plc (LSE: CCM), jointly announced today that they have entered into an exclusive agreement for cinema advertising at all Pacific and Consolidated Amusement Theatre locations. The exhibitor’s screens are concentrated in California and Hawaii. The agreement includes exclusivity to sell on-screen slides and cinema commercials.
The addition of Pacific Theatres to Screenvision's exhibitor roster doubles the company's Los Angeles market share and increases its overall national screen market share to 55 percent. In addition to LA, Screenvision also has more than a 60 percent market share in New York and Chicago, rounding out its leadership position in the top three demographic market areas.
“This agreement further strengthens Screenvision’s leadership position in the cinema advertising industry as we have the unique ability to combine national reach with this high impact medium,” said Matthew Kearney, CEO of Screenvision. “Pacific’s theatres are of the highest quality and they have an excellent presence in one of our most important markets, L.A. We welcome them to our network.”
The exclusive agreement will include 380 screens, 158 of which are in Los Angeles, a key market for the cinema advertising industry that includes the marquis Pacific Theatres at The Grove. ArcLight Cinemas does not currently show advertising, hence, is not a part of this agreement.
"We are thrilled to enter into this exclusive partnership with Pacific, as the ability to access their premium venues is of tremendous value to our advertising clients nationwide," said Darryl Schaffer, EVP Theatre Operations and Exhibitor Relations for Screenvision. "The agreement reinforces Screenvision’s industry track record of being exhibition's screen advertiser of choice."
"In this growing and fast changing world of cinema advertising, Screenvision allows us to stay aligned with the needs of our customers, our operations, and revenue opportunities, while building in flexibility for the future” said Pacific Theatres COO Nora Dashwood. "We look forward to a strong and lasting partnership."
About Pacific Theatres
Founded in 1946 by William R. Forman, Pacific Theatres currently operates more than 400 walk-in and drive-in screens throughout California and Hawaii, including ArcLight Cinemas Hollywood, Los Angeles, preeminent cinema complex. Located at the Cinerama Dome Entertainment Center in Hollywood, the 15-screen theater was opened in the spring of 2002. The company also owns and manages drive-in theaters, retail centers, office buildings, a business park, self-storage facilities, and ancillary businesses such as swap meets, family fun centers, and a bowling center.
