Rel MediaWorks partners US co for turning 2D films into 3D
  • This Section
  • Latest
  • Web Wrap
Last Updated: Monday, December 07, 2009, 20:29
  
New Delhi: In a bid to meet the growing demand for 3D movies globally, Reliance MediaWorks on Monday said it has partnered with US-based In-Three for converting 2D films and videos into the 3D format.

"The alliance enables us to address the rapidly growing demand of Hollywood studios for converting both new films shot in 2D as well as older film released in cinemas and on VCDs and DVDs into the 3D format," Reliance MediaWorks CEO Anil Arjun told agency.

Reliance Mediaworks will hire 200 in January when the work starts and will gradually hike staff strength to 1,000 by December depending on the demand, he added.

"The demand is also evident from the successful release of 'Monsters vs Aliens', the re-release of Toy Story in 3D and the much anticipated release of 'Avatar'," Arjun said.

The number of 3D cinema screens worldwide is expected to touch over 7,000 this year and 15,000 by 2013 from about 2,500 in 2008, he added.

The two companies will jointly work on 5-6 titles in the first year, while the first joint title is expected to commence in the beginning of 2010.

Asked about the business potential, Arjun said, "It is still early to comment on the size of opportunity but it is big. The average cost of a project for conversion from 2D to 3D is about USD 5-15 million."

Shares of the company closed at Rs 264.25 on the BSE, down 2.80 per cent from its previous close.

PTI


First Published: Monday, December 07, 2009, 20:29


comments powered by Disqus