Mumbai: In what is the largest digital cinema deal to date in Spain, Arts Alliance Media (AAM) and Yelmo Cines have reached an agreement to digitize Yelmo’s 31-strong chain of cinemas, in a move to increase the number of digital and 3D screens in the country. The arrangement includes all the financing to procure the equipment, allowing the rollout to begin immediately.
Yelmo, Spain’s leading local exhibitor will install digital systems in 370 screens under this deal. In Phase One of the rollout, at least half of Yelmo’s screens at each location will be converted to digital, with the remainder to be installed over the following months.
The installation and maintenance will be carried out by AAM in conjunction with local Spanish integrator Grupo Kelonik. All screens will be 3D capable and will receive AAM’s Theatre Management System software and library management server. Sites will also be equipped with satellite receivers in cooperation with AAM’s partner Arqiva for the receipt of digital prints and live events.
The rollout will be achieved with financing provided by AAM through a €50m investment from funds advised by Sankaty Advisors, LLC, the credit affiliate of Bain Capital, LLC, for digital cinema conversion, announced earlier this year. The deployment with Yelmo in Spain is AAM’s seventh announced territory following deals in the UK (Cineworld and Reel), France (CGR), Italy (The Space), Holland (ABC), Denmark (Denmark Digital) and in Norway via its JV Nordic Digital Alliance.
Spain currently has around 300 digital screens, approximately 80% of which are 3D-ready.