Digital Cinema Capital Investment Plans
Hoyts Exhibition has announced plans to replace all film equipment with Digital Cinema equipment within an ambitious 18 month window, in preparation for the sale of the Hoyts group. The modernization of the equipment to the current Hollywood mandated Digital Cinema standard, is expected to cost the group somewhere in the order of 30 million AUD. This amount is subsidized by the Virtual Print Fee received from the participating Hollywood Studios. This 30M AUD cost is also expected to be offset by the significant reduction in staffing requirements (exhibitors in the USA are claiming a 90% reduction in projection staff post-modernization). If Hoyts follow through with their capital investment plans, they stand a chance of relinquishing their position as the lowest capital investor in the Australian cinema exhibition industry.
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