Major Hollywood Studios Agree on Digital Movie Standards
Posted on: Thursday, 28 July 2005, 09:00 CDT
Major Hollywood studios agree on digital movie standards
LOS ANGELES, July 27 (Xinhua) -- Hollywood's major studios have hammered out technical standards for digital movies, the Los Angeles Times reported Wednesday.
The agreement, to be announced here in Beverly Hills later in the day by a consortium of seven studios, does not detail who will pick up the tab for changing from film to digital projection, studio sources familiar with the discussions said.
Several financing plans have been discussed as the studios and theater operators wrestle with who should foot the bill for such items as digital projectors and computer equipment, the paper reported.
One top studio source said that talks had produced a plan to establish a financing entity that would borrow the money to pay for the initial costs for 3,500 to 10,000 screens across the country.
The costs would be recouped in part from fees charged theater owners and from the studios' savings from switching to digital, the source said.
The three-year effort that preceded the agreement on standards was intended to save millions in distribution costs, enhance picture quality and increase anti-piracy protections.
The technical standards to be announced Wednesday were developed by the Digital Cinema Initiatives, a consortium of seven studios including Walt Disney Co., 20th Century Fox, Metro-Goldwyn-Mayer, Paramount Pictures, Sony Pictures Entertainment, Universal Pictures and Warner Bros., it was reported.
Source: Xinhua News Agency - CEIS
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