Qube Cinema Finalizes Agreement to Purchase MetaMedia
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Synopsis
On January 14, Qube Cinema announced the definitive agreement to acquire MetaMedia, North America's largest cloud-based cinema content delivery platform. This acquisition strengthens Qube's position in North America and enhances its cinema delivery network globally.
Key Takeaways
- Qube Cinema acquires MetaMedia to enhance digital cinema solutions.
- Creates the world’s largest cinema electronic delivery network.
- Supports nine of the top ten cinema chains in the US.
- Facilitates faster and cost-effective content delivery.
- Significantly boosts the box office for Indian cinema in North America.
Chennai, Jan 14 (NationPress) Qube Cinema, a prominent provider of comprehensive digital cinema technology solutions, has declared that it has finalized a definitive agreement to acquire a complete stake in MetaMedia (MMT Tech, Inc).
MetaMedia stands as North America's largest cloud-based content delivery platform for cinemas.
Through this acquisition, Qube Wire has emerged as the globe's largest cinema electronic delivery network, boasting connections to over 5,000 cinemas across 51 countries.
In the United States, the combined network will cover nine of the top ten largest cinema chains. Qube will persist in executing MetaMedia's current deployment strategies and fulfilling its customer contracts.
In a statement, Qube Cinema CEO Harsh Rohatgi remarked, "The acquisition of MetaMedia significantly enhances Qube's operations in North America."
"MetaMedia's pioneering network has reliably provided quicker, more economical solutions for content delivery, resulting in savings of millions when compared to traditional methods. At Qube, we've utilized this technology to expedite the introduction of Indian feature films to North American cinemas, tripling the volume and frequency of Indian releases over the past five years. With the integration of MetaMedia, our combined capabilities will establish a new benchmark in cinema content delivery for numerous distributors and generate unmatched value for the global film industry."
Qube Wire has consistently expanded since its inception as a global cloud-based distribution platform in early 2017. It accounts for over 95 percent of all Indian films released worldwide. Through its regional collaborations and automated hard drive duplication centers, Qube Wire offers content delivery services to cinemas in 135 countries around the globe.
Significantly, Qube Wire has facilitated a considerable rise in the box office revenue of Indian films in the US. Indian movies are frequently completed only days prior to their release, making Qube Wire's rapid and effective cloud-based distribution system crucial for meeting challenging delivery timelines.
Qube Wire also manages KDM for numerous clients. Last year, Qube issued over 2.3 million KDMs to theatres in North America.
Qube Cinema is a trailblazer in developing end-to-end digital cinema technology, providing advanced products and services to filmmakers, exhibitors, and audiences.
