Disney commits to 3-D

The Walt Disney Company announced plans to embrace the 3-D format by releasing movies in the format starting next reports the Associated Press.

At a presentation showcasing what’s coming from the popular animation studio, Chief Creative Officer John Lasseter told those assembled that Disney would begin releasing major theatrical releases in both the original 2-D and new 3-D formats beginning with next year’s Up.

The announcement follows news last month that four major studios–Disney, News Corp.’s 20th Century Fox, Viacom Inc.’s Paramount, and Universal Pictures–agreed to help equip and finance the conversion to 3-D theaters for up to 10,000 screens across the United States and Canada. The conversion is expected to take up to three years according to reports and could cost as much as $700 million.

Analysts predict the price of converting theaters to the new format will pay off. Studies show that 3-D theaters draw two to three times the movie-going audience and that theaters can charge more per ticket for the experience.