Showscan/UA plan motion simulator rides in theaters.At least 20 rides slated for theaters across the nation Showscan Corp. of Culver City Culver City, city (1990 pop. 38,793), Los Angeles co., S Calif., a residential suburb of Los Angeles; inc. 1917. It is a center of the U.S. motion-picture industry, whose roots in the city date to c.1915. Its chief manufactures are rubber products and computers. has signed a deal with United Artists Theatre Circuit for a joint venture to bring a minimum of 20 Showscan motion-simulator rides to at least 10 UA theater complexes around the country. The move marks the first time a simulation ride manufacturer has joined with a theater circuit to bring what has traditionally been a theme park attraction into existing theater complexes. Under the deal, UA will invest $2.5 million in Showscan in exchange for 25,000 shares of a new Showscan Series C convertible preferred stock Convertible Preferred Stock Preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Also known as "convertible preferred shares". . UA will operate all the venues built under the joint project. Two theaters with a minimum of 24 seats each will be built in at least 10 locations around the country, allowing for two different motion simulation attractions at each venue. The theaters will couple moving seats with four- to five-minute film clips, giving viewers the sensation of actually experiencing the action in the film. Showscan shoots the films and develops the software needed to synchronize See synchronization. the theater seats to the films' action. Under the joint venture, the companies will either retrofit existing theaters in UA multiplexes or place the simulation rides in new UA facilities. The cost per two-screen runs about $1.5 million to $2 million, Showscan officials said. "(The venture) represents the first inroad in·road n. 1. A hostile invasion; a raid. 2. An advance, especially at another's expense; an encroachment. Often used in the plural: Foreign products have made inroads into the American economy. for our industry into the mainstream theater industry," said Showscan President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Bill Soady. "It will provide a potential traffic flow unmatched worldwide, and it will significantly enhance an awareness of Showscan and its products." UA is the largest theater chain in the country with nearly 2,300 screens in more than 400 locations. Bob Rogers
BRC British Retail Consortium BRC Business Resource Center (Small Business Administration) BRC Bisexual Resource Center BRC Black Radical Congress Imagination Arts, a Burbank-based company that creates shows and attractions for theme parks, called the Showscan/UA move the natural progression in the field of motion-simulation rides. Simulator rides and movies attract the same audience, Rogers said, and locating a five-minute ride in a theater complex will help theater owners leverage more dollars out of their movie-going customers. "This makes all kinds of sense," Rogers said. "But they're going to have to tie their (simulation ride) product into major motion pictures." Generally speaking, Rogers said, the simulation rides that do the best are those that use the cosmology of a major motion picture, such as Disneyland's "Star Wars"-based Star Tours Star Tours is a simulator ride located in many of the Disney theme parks, including Disneyland in California, Disney-MGM Studios in Florida, Tokyo Disneyland in Japan, and Disneyland Park in Paris. , or Universal Studios' "Back to the Future" ride. "What would you rather see?" Rogers said. "A ride called 'Dinosaurs' or (the movie) 'Jurassic Park'?" Showscan also announced plans to increase the number of Showscan-owned and -operated simulation ride theaters to 12 within the next two years. Showscan currently owns and operates two -- CineMania at Universal CityWalk Universal CityWalk is a part of Universal Studios Hollywood, Universal Orlando Resort and Universal Studios Japan originating from Universal's first park, Universal Studios Hollywood. and another in London. The firm additionally has stepped up its simulation-theater film production goals, [Incomplete Text in Original Publication] |
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