Barco Expands Financing Program with Cinedigm

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Fri, 05/13/2011 - 20:00 -- Nick Dager

Barco has expanded its financing program with Cinedigm recently completing another $15 million in funding to provide off-balance sheet non-recourse financing for exhibitors converting their projection equipment to digital cinema platforms. This latest round of funding will convert 249 full digital cinema systems.  “Barco has consistently and repeatedly fulfilled their commitments to exhibitors ” says Chuck Goldwater president of Cinedigm Media Services Group. “They have delivered and installed the highest quality digital systems and provided invaluable financing which has enabled over a thousand Cinedigm-financed exhibitor deals to be completed under Cinedigm's VPF program. Our turnkey solution which is supported by long-term agreements with all the major studios is unmatched in the industry today. We are proud of the many successes we have achieved together with our partners at Barco and look forward to many more to come.” 

 While the benefits and increased revenue opportunities of converting from film to digital are clear many exhibitors have discovered that funding the conversion from film to digital equipment can be elusive and challenging. 

 “From the outset Barco promised full financing delivery and installation of over 300 systems in just 15 weeks and they delivered on each and every promise they made. While they are already known for providing the brightest and highest quality projectors on the market Barco's integrity and execution truly set them apart. We could not have found a better partner ” says Peter A. Nelson executive vice president and chief operations officer for Rave Motion Pictures the Dallas Texas-based national theater chain. 

 “As a strong fiscally responsible company we have the means to provide the full and complete solutions our customers are asking for ” says Patrick Lee vice president digital cinema for Barco North America. “Full cost recoupment VPF models like Cinedigm's are the gold standard in the industry and our customers won't settle for promises of partial VPF amounts that only cover a fraction of the costs.”