Sony To Open Auditorium At Galaxy Theatres In Las Vegas
Zacks Investment Research | Apr 02, 2019 09:52PM ET
Per media reports, Sony Electronics Inc. — a division of Sony Corporation (NYSE:SNE) — is on the verge of opening its first-ever Sony Digital Cinema premium large-format (PLF) auditorium at Galaxy Theatres’ location at the Boulevard Mall in Las Vegas. Notably, the nine-screen complex is equipped with laser projectors coupled with two PLFs — Sony’s and Galaxy’s screen.
Reportedly, Sony Digital Cinema is a new experience for PLF theaters that includes the company’s dual laser projection system, which provides exceptional picture quality and immersion. The auditorium also includes Dolby Atmos sound and more than 200 reclining seats. The Japanese electronics giant believes that moviegoers are ready to pay a few extra bucks for the premium experience. Tickets are expected to cost $12.75, $16.75 in the Sony Digital Cinema auditorium and $18.25 for a 3D show.
This location in Las Vegas is the first in what is expected to be a nationwide rollout of Sony Digital Cinema experience, which will pull in more audience. Sony has been actively working with the world’s biggest theater chains and art house cinemas to provide exceptional products and service to improve the movie-going experience. Offerings include 4K, laser, lamp, HDR, 2D and 3D projection technology options.
Furthermore, Sony has been making concerted efforts to attain a leaner organizational structure to augment growth. The company announced a number of changes in its internal administration and reshuffled its operating segments. Sony believes that converting its business units into distinct subsidiaries will enhance its organizational independence as each independent unit sets high targets in an effort to accomplish the company’s mid-term targets. Sony believes that these steps will allow it to generate sustainable profit, accelerate decision-making processes and reinforce business competitiveness, which augurs well for the future.
Sony has also undertaken a number of measures in its Branded Product Business, which include Mobile Communications, Imaging Product & Solutions, and Home Entertainment & Sound segments, to ensure stronger growth. A number of measures, including cost-reduction initiatives, lower exposure in low-profit geographic regions and reduction in advertising & promotion expenses are expected to benefit this business in the long run. Going forward, Sony plans to concentrate mainly on the premium segment of the branded products market to maximize its growth potential. Also, the company has launched a few products, which will likely supplement sales in the long run. Within the HE&S segment, it is presently focusing on high value-added models such as 4K TVs to improve the product mix.
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