SM Cinema and the Film Development Council of the Philippines ink agreement in support of the Virtual Print Fee Program and FDCP’s Cinematheque Project

Times really has changed for the movie industry. Though we refer to movies as "film",  we are now at the time for it to evolve into a new format that will provide a better movie experience especially for Filipino moviegoers.

SM Cinema and the Film Development Council of the Philippines (FDCP) solidify its partnership and celebrate a milestone in Philippine Cinema history with the full digitalization of SM Cinema theaters by September 2012.

In a recent Memorandum of Agreement signing between FDCP and SM Cinema, the country’s leading film exhibitor has converted 100% of its theaters to digital under the Virtual Print Fee (VPF) program. 

Launched last year, the VPF Program is a financing mechanism which funds the first purchase of digital cinema equipment, allowing theater owners and exhibitors to recoup a portion of equipment costs. DCinema manages the deployment of the VPF in the Philippines. With the help of the VPF program, DCinema will be able to deploy world-class digital projection system in the country, with a target of 400 screens for digital conversion.

Various key members of the local film industry, from both the commercial and independent sector were in attendance as Mr. Edgar C. Tejerero, Senior Vice President for West Avenue Theatres Corporation, the managing arm of SM Cinema and FDCP Chairman Mr. Briccio Santos inked the agreement that will solidify the partnership for the two major players in the film industry. 

The contract signing between SM Cinema and the FDCP will make way for a solid platform for Filipino filmmakers and their craft. As part of the agreement, SM Cinema will support FDCP’s Cinematheque project by lending one of its theaters for exhibition.

Digitizing the movie theaters is a leap forward in the film industry’s goal to prevent piracy. With tighter copy protection, the distribution of unauthorized copies before the local and world premiere can be prevented because the interception of prints will not happen anymore.  Moreover, digital conversion is environment-friendly because it eliminates the need to use of chemicals which are used in developing films.

With its goal of providing only the best movie-going experience to its patrons, SM Cinema continuously develops its theaters, and through the full digital conversion of its theaters, SM Cinema ensures that the local film and entertainment industry is at pace with the global trends in cinema technology.