It
appears that the plans by Palace Amusement Company to go 3D HDTV at all their
four (4) cinemas namely Carib Cinema at Cross Roads in Kingston, Palace
Cineplex at Sovereign Centre in St Andrew, Palace Multiplex in Montego Bay and
the Odeon Cineplex in Mandeville as first reported in my
blog
article entitled “Palace
Amusement and the 3D Movies - Lady Gaga's 3D Mui Mui and Dolche & Gabbana” is beginning to reap rewards.
This as recent statistics released by the Palace Amusement Company
in their Annual Report in December 2011AD indicates that going 3D
HDTV at all four (4) Cinemas for a cool US$2
million (JA$172 million) was indeed money well spent as reported in the article
“Palace
Amusement to show live sports, concerts”, published Wednesday
December 7, 2011AD, by Steven
Jackson, The
Jamaica Gleaner.
This
after the Palace Amusement Company was facing losses of JA$7.8 million between
January 2010AD to March 31 2011AD. Their newly audited financials indicate the
following and are an update to the above story that first broke on my blog:
1.
Palace Amusement Company spent some
J$76.6 million in upgrading all four (4) of its cinemas, an increase of 233%
over 2010AD expenditures
2.
Jamaicans J$614.5 million at the movies
in 2011AD, a new record for the Cinema Company whose fortunes were sagging
3.
J$431.5 million was in Movie Ticket
sales
4.
J$183 million on confectioneries i.e.
including popcorn, candy and sodas
5.
6.6% increase in the Palace Amusement
Company’s pushed audited Net Profits to J$10.9 million in the year ending June
30, 2011AD
Broken
down in terms of each of the cinemas owned by Palace Amusement Company or the
period 2010AD to 2011AD, the 6.6% uptick in profits can be seen across all of
their cinemas as follows:
1.
Carib5 earned the bulk of box office
receipts at J$223 million with food sales at a decent J$97.7 million
2.
Palace Multiplex is second at J$100.3 million with food
receipts at J$38.1 million
3.
Palace Cineplex at comes in third with
J$77.9 million with food receipts at J$34.6 million
4.
Odeon Cineplex at J$30.2 million with
food sales at J$12.5 million
Clearly
the future of cinema is 3D HDTV, being as it affords a very simple way to
protect content from copying by Video Pirates as noted in my
blog
article entitled “3-D
anti-piracy technology to thwart Digital Video Piracy”,
as to watch movies in 3D HDTV Movies requires active shutter glasses. Its popularity can be seen in the fact that,
quote: “During the year, we exhibited 29 3D pictures, and it is becoming
patently obvious that the industry is set to phase out and discontinue its
analogue distribution within two years. Locations without [digitized] screens
will by then have no option but to close”.
Buoyed
by these results, Palace Amusement is now laying the groundwork to push into
yet another arena: Live Entertainment. This as mentioned in their 2011Annual
Report, quote: “Alternative content has
been on the horizon for some time, but during the year we were not able to make
it a reality. It is still uppermost in our minds as we look forward to showing
live events such as concerts - pop, classical and opera, as well as sporting
events”.
Conceivably,
highlights of the London Olympics 2012AD as well as other sports events such as
UEFA Cup football matches and even CARIFTA Games may be conceivably shown in
the cinemas. Being as they are live exclusive events, sponsorship tie-ins are
required to ensure that Palace Amusement Company is not encroaching on the
Broadcasting rights for these various content.
In
addition, the Palace Amusement Company may also consider my idea of using their
cinemas to stage the J’Anime Competition as described in my blog article entitled “J'Anime Competition - An Avenue to Fame for Animators”.
Live
Entertainment, specifically in 3D HDTV, especially
events that may be abroad, would make Palace Amusement Company a viable
competitor to Triple Play Provider FLOW which has ramped up its investment in
the region by some US$30 billion over the next five (5) years in Jamaica as
mentioned in the article “Flow
to invest another J$30b in five years”, published Friday
February 3, 2012AD by Steven Jackson, Business Reporter, The Jamaica Gleaner.
Like
Palace Amusement Company, they too are facing problems for which a push towards
3D HDTV and 300MBps speeds remain as their main savior as prognosticated in my
blog
article entitled “FLOW goes 3D HDTV as Netflix cometh - XFinity follow-on
indicates Streaming's Deep Impact” and the Geezam Blog article
entitled “FLOW goes 3D HDTV et al – Netflix to make FLOW Extinct”.
And
although not having the mobility of LIME TV or Telecom Provider LIME’s coming
foray into IPTV Streaming in partnership with Avail-TVN and Juniper Networks as
build-out partners as stated in my blog
article entitled “LIME
parent CWC partners with Avail-TVN to provide IPTV Streaming Service - War of
The Worlds against Netflix ” and “LIME
chooses Juniper Networks to rebroadcast Avail-TVN's Content - Pepita Little's
Ghostbusters to capture Media Personalities”, they do have
a bigger advantage, literally.
This
as with a partnership with eMedia Interactive’s founder and CEO Tyrone Wilson
as described in my blog article entitled “e-Media
Interactive launches the First Caribbean
IPTV Network - IPTV Venture Capitalism in the Year of the Dragon”,
they can use their bigger venues and screens to deliver content streamed by the
Caribbean first indigenous IPTV Streaming Platform, kick starting Palace
Amusement Company into the 21st Century.
Broadcasting
is definitely set to be dominated by IPTV Streaming as Wired and Wireless
Broadband Internet from the Telecom Providers begins to nibble at the
Free-to-Air Broadcasters now slowly crumbling empire, as Palace Amusement
Company’s Direction for 2012AD effectively heralds the triumphant return of the
Sunday Matinee.
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