Reliance Mediaworks jumps into 3D movies

Anil Ambani Group company Reliance MediaWorks said on Monday it has partnered with US-based In-Three to convert films and videos into the three-dimensional format, to cater the growing demand for such movies globally.

The strategic alliance between the two companies would address the rapidly growing demand of Hollywood studios for converting both new films shot in 2D as well as older film released in cinemas and on home platforms into the 3D format, Reliance MediaWorks said in a filing to the Bombay Stock Exchange.

The partnership is expected to be able to cater 15-25 feature films projects per year and work on the first joint title will commence in the beginning of 2010, it added.

"In order to meet the full slate of films and that In-Three has lined up for 2010 and beyond, we sought out the best possible international partner. One that could provide the level of quality our studio clients expect which made Reliance MediaWorks the natural choice for us," In-Three CEO Neil Feldman said. The number of 3D cinema screens worldwide will rise to over 7,000 this year and 15,000 by 2013, the filing said. The number of such screens was 2,500 in 2008. 

"This partnership is a joint effort that combines the best in technology and artistic talent from Hollywood with the most advanced skills and large scale image processing capabilities in India," Reliance MediaWorks CEO Anil Arjun said.

In-Three converts ordinary 2D (flat) motion pictures into high quality 3D (stereo) pictures. Shares of Reliance MediaWorks were trading at Rs 267.90, down 1.45 per cent on BSE.