Dolby Expanding the Best Way to Experience Movies by Making Dolby Vision and Dolby Atmos Available to All Premium Theater Exhibitors
- Dolby Laboratories, Inc. (DLB) is introducing Dolby Vision and Dolby Atmos premium movie experiences to a broader audience worldwide.
- The new offering enables exhibitors to provide a Dolby experience in their premium auditoriums using Dolby's cutting-edge technology.
- Dolby Cinema, known for its immersive movie experience, incorporates Dolby Vision and Dolby Atmos technologies, generating high box office revenues per screen.
- The new solution brings Dolby Vision picture quality and Dolby Atmos sound to theaters, enhancing the movie-watching experience as intended by filmmakers.
- Dolby Cinema has seen significant success with over 600 theatrical features released or confirmed to be in Dolby Vision and Dolby Atmos, including recent box office hits.
- Dolby received two Scientific and Engineering Awards for its innovations in cinema sound and projection systems.
- Dolby Cinema has experienced strong growth since its inception in 2014, expanding to 28 exhibitor partners across 14 countries.
- In 2023, Dolby Cinema had its best year at the box office, surpassing pre-pandemic ticket sales levels by 7% domestically.
- Dolby Cinema achieved record-breaking ticket sales during the weekend of July 21-23, driven by blockbuster releases like Barbie and Oppenheimer.
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Insights
The expansion of Dolby's premium offerings to more theaters is a strategic move that taps into the growing demand for high-quality movie experiences. By equipping more auditoriums with Dolby Vision and Dolby Atmos, Dolby Laboratories is not only broadening its market reach but also reinforcing its brand as synonymous with top-tier audiovisual technology. As audiences increasingly seek out immersive experiences, the company's focus on enhancing the sensory aspects of moviegoing could lead to higher engagement and customer loyalty.
It's important to consider the financial implications of this expansion. The claim that Dolby Cinema generates the highest average per screen box office among premium large format offerings suggests that this move could result in increased revenue streams for both Dolby and its exhibitor partners. Furthermore, the historical data indicating a 7 percent increase in domestic ticket sales from pre-pandemic levels in 2019 underscores the recovery and potential growth trajectory of the cinema industry, possibly translating into bullish sentiments for Dolby's stock among investors.
Dolby's integration of Dolby Vision and Dolby Atmos into more theaters worldwide represents a significant development in the entertainment sector. The technology's ability to enhance storytelling by providing filmmakers with advanced tools for visual and auditory expression has been a game-changer. This has been evidenced by the use of Dolby technologies in high-grossing films and the receipt of Scientific and Engineering Awards, underscoring Dolby's innovation credentials.
From an industry perspective, Dolby's move could exert pressure on competitors to upgrade their offerings, potentially leading to an arms race in technological advancements in the cinema space. This could have a cascading effect on the broader entertainment industry, influencing production decisions and distribution strategies. The emphasis on premium experiences may also affect pricing strategies and consumer behavior, with moviegoers possibly showing a willingness to pay higher ticket prices for a superior cinematic experience.
Investors should note the strategic implications of Dolby's announcement on the company's financial health. The expansion of Dolby Cinema's presence is likely to contribute positively to the company's top-line growth. This is due to the premium pricing model associated with high-quality cinematic experiences which can drive up average revenue per user (ARPU). Additionally, the mention of Dolby Cinema's record box office year indicates a strong consumer adoption that could be favorable for long-term revenue projections.
However, investors should also weigh the capital expenditures associated with technological deployments and potential risks such as market saturation or shifts in consumer preferences toward at-home entertainment. The balance between these factors and the incremental revenue from the expanded installations will be important in assessing Dolby's financial outlook and its impact on the stock market.
SAN FRANCISCO , April 2, 2024 /PRNewswire/ -- Dolby Laboratories, Inc. (NYSE: DLB), a leader in immersive entertainment experiences, is bringing the combined Dolby Vision and Dolby Atmos premium moviegoing experience to even more theaters and audiences around the world. Leveraging Dolby's robust content pipeline, globally recognized brand, and innovation in sight and sound, this new offering enables exhibitors to deliver a Dolby experience to their existing and forthcoming premium auditoriums – for the first time ever.
Dolby Cinema is the ultimate moviegoing experience, providing a Dolby-designed environment that showcases the best implementation of Dolby Vision and Dolby Atmos. Dolby Cinema generates the highest average per screen box office amongst all premium large format (PLF) offerings.
This new solution gives exhibitors access to the visceral and awe-inspiring experience of Dolby Vision picture quality together with Dolby Atmos immersive sound – the same technologies that power Dolby Cinema, allowing audiences to see, hear and feel the film exactly as the filmmaker intended.
"At Dolby, our passion is creating immersive entertainment experiences, and we can't wait to bring the transformative power of Dolby Vision and Dolby Atmos to even more theaters around the world," said Jed Harmsen, Head of Cinema and Group Entertainment at Dolby. "Coming off of Dolby Cinema's strongest year at the box office, we're thrilled to provide exhibitors this new offering, which will unlock significantly greater opportunities for moviegoers around the world to love movies more in Dolby at premium theaters."
Since their creation, Dolby Vision and Dolby Atmos have revolutionized the premium moviegoing experience, empowering filmmakers to bring their creative visions to life and immersing audiences in the worlds and characters onscreen including at numerous world premieres. Over 600 theatrical features have released or are confirmed to be in Dolby Vision and Dolby Atmos, including recent box office hits from the past year like Dune: Part Two, Barbie, Guardians of the Galaxy Vol. 3, Spider-Man: Across the Spider-Verse, and more. This year also marked a particularly historic year for Dolby in cinema, as Dolby innovations – the Dolby Atmos Cinema Sound System and the Christie E3LH Dolby Vision Cinema Projection System – were honored with two Scientific and Engineering Awards from the Academy of Motion Picture Arts and Sciences at the prestigious Scientific and Technical Awards, which celebrate groundbreaking innovations in cinema.*
Dolby Cinema & Industry Momentum
Since the opening of the first Dolby Cinema in 2014, Dolby Cinema has grown rapidly, encompassing 28 exhibitor partners and 14 countries. Ahead of CinemaCon 2024, Dolby also is celebrating its global momentum around Dolby Cinema in the last year. 2023 marked Dolby Cinema's strongest year in history at the box office, with domestic Dolby Cinema ticket sales eclipsing its pre-pandemic levels – up 7 percent from 2019. July 21-23 was the biggest weekend of all time for Dolby Cinema, driven by blockbuster powerhouses Barbie and Oppenheimer.
For more information about the new offering, Dolby is providing a demo to the industry of the combined Dolby Vision and Dolby Atmos experience at the Colosseum at Caesar's Palace on April 10 from 11:45-12:15pm. And to experience Dolby's technologies at CinemaCon 2024 in
About Dolby
Dolby Laboratories (NYSE: DLB) is based in San Francisco with offices around the globe. From movies and TV shows, to apps, music, sports, and gaming, Dolby transforms the science of sight and sound into spectacular experiences for billions of people worldwide. We partner with artists, storytellers, developers, and businesses to revolutionize entertainment and communications with Dolby Atmos, Dolby Vision, Dolby Cinema, and Dolby.io.
Dolby Cinema, Dolby Vision and Dolby Atmos are registered trademarks of Dolby Laboratories.
*Note: The Scientific and Engineering Award for the Dolby Atmos Cinema Sound System was awarded to Charles Q. Robinson, Nicolas Tsingos, Christophe Chabanne, Mark Vinton and the team of software, hardware and implementation engineers of the Cinema Audio Group at Dolby Laboratories. The Scientific and Engineering Award for the Christie E3LH Dolby Vision Cinema Projection System was presented to Michael Perkins, Gerwin Damberg, Trevor Davies and Martin J. Richards.
Media Contact: Rachel Lowery, Rachel.Lowery@Dolby.com.
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SOURCE Dolby Laboratories, Inc.
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