Dolby Laboratories has acquired the naming rights to what had been known as the “Kodak Theater” at the Hollywood & Highland Center in Los Angeles. The 3,400-seat, 180,000-square-foot theater will now be known as the Dolby Theater.
With Kodak’s abandoning the name as a part of the fallout from their corporate bankruptcy there have been questions as to whether the venue’s signature event, the annual Academy Awards presentation, would remain there or be moved to another location. Under the terms of the agreement the awards ceremony will remain there for another 20 years.
As part of the arrangement, Dolby is refitting the theater for its new Dolby Atmos theater sound technology, claimed as “…a breakthrough audio technology that delivers the most natural, life-like sensory experience.” The theater refit and re-naming is currently underway and should be completed shortly.
When not used for the Academy Awards the theater is the home to Cirque de Soliel’s “Iris” and has also used for other premieres and events. In answer to a question from Residential Systems, Kevin Yeaman, president and CEO of Dolby Laboratories did not elaborate on any specific use of Dolby products and technologies in that presentation. However, he did point to the use of the Dolby Theater beyond the obvious film-sound related technologies as showcase for other Dolby products and technologies such as Dolby 3D Cinema and the auto stereoscopic (glasses-free) 3D Dolby system and other products for home, broadcast, production, and distribution of both sound and video.
Financial terms of the agreement were not announced.