Company Announcements

FOUNTAIN VALLEY, Calif.--(BUSINESS WIRE)--Aug. 22, 2024-- Moving iMage Technologies (NYSE American: MITQ), $MITQ, (“MiT”), a leading technology and services company for cinema, Esports, stadiums, arenas and other out-of-home entertainment venues, today announced it received projects from two customers to upgrade premium large format (PLF) auditoriums to immersive sound systems.

Ben Stanton, Senior Director of Sales at Moving iMage Technologies, commented: “MiT is proud to collaborate with Horizon Cinemas and Schulman Theatres to enhance their PLF auditoriums with cutting-edge immersive audio systems. This partnership demonstrates the commitment of Horizon Cinemas and Schulman Theatres to delivering exceptional cinematic experiences through immersive audio technology.

“Upgrading to immersive sound systems reflects a growing trend among theater owners of investing in advanced audio technologies to elevate the cinematic experience and capitalize on the industry’s recovery. These upgrades not only enhance the movie-going experience but are also expected to drive higher demand and allow theaters to charge premium ticket prices."

Horizon Cinemas - Fallston and Aberdeen, MD locations

The Fallston and Aberdeen Horizon Cinemas locations will each be upgraded with a Dolby Atmos immersive audio auditorium. The upgrades will feature the Dolby CP950A with QSC amplifiers and loudspeakers. MiT will manage the installation and calibration services.

Schulman Theatres - Film Alley location in Longview, TX:

The Schulman Theaters location will implement two DTS-X IAB (Immersive Audio Bitstream) auditoriums featuring GDC SR-1000-DTS servers with QSC amplifiers and loudspeakers. MiT will provide calibration and certification services.

About Immersive Sound Systems

Immersive sound systems significantly enhance the audio experience in movie theaters, providing audiences with a richer, more engaging and realistic cinematic experience by creating a three-dimensional audio environment. By adding this layer of depth to the audio, the emotional impact of films are heightened and audiences are more likely to be drawn into the story, resulting in a more engaging and memorable experience. Immersive sound systems also offer a range of additional benefits that significantly enhance the movie-going experience. They provide precise sound placement, delivering a lifelike and dynamic audio environment by accurately positioning and moving sounds around the audience to match on-screen action. The systems offer high-resolution audio, ensuring superior clarity and detail that enhances dialogue, sound effects, and music, capturing every audio nuance. With uniform audio quality across all seats, these systems ensure a consistent listening experience throughout the theater. The technology enables real-time adaptation, adjusting sound to create a cohesive and synchronized audio-visual experience with complex, layered soundscapes. Additionally, immersive flexible sound design allows filmmakers to creatively place sounds in a 3D space, enriching storytelling with innovative audio design.

About Moving iMage Technologies

Moving iMage Technologies (NYSE American: MITQ) is a leading provider of technology, products and services for the Motion Picture Exhibition industry, with expanding ventures into live entertainment venues and Esports. We design and manufacture a wide range of proprietary products in-house, including developing potentially disruptive SaaS and subscription-based solutions. Committed to excellence and innovation, Moving iMage Technologies aims to revolutionize the out-of-home entertainment experience with cutting-edge technology and superior service. For more information, visit www.movingimagetech.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240822076852/en/

Moving iMage Technologies Investor Relations and Media Contacts:
Brian Siegel, IRC^®, M.B.A.
Vice President, Strategic Communications and Investor Relations, MiT
Senior Managing Director, Hayden IR
(346) 396-8696
brian@haydenir.com

Source: Moving iMage Technologies