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Earlier this week, StereoVision Entertainment announced that Hulk Hogan has signed with the company for the starring role in their upcoming 3D movie titled "Kung Fu U 3D". The two sides agreed to a one-picture deal, but there is potential for Hogan to appear in future films projects.

Negotiations were initiated in February at this year's Mardi Gras, where Hogan was given the honorary title of Bacchus King. Doug Schwartz, who is StereoVision's chairman and the creator of "Baywatch", has worked with Hogan on several TV and movie projects in the past and arranged for Hogan's appearance.

While Hogan was at Mardi Gras in New Orleans, StereoVision agent Mark Lichtman, who is also head of the entertainment committee for the Bacchus club, began talks with Hogan about the movie role. Hogan reportedly liked the storyline behind the Kung Fu 3D movie, and a deal was put together.

StereoVision markets its 3D movies primarily to kids and young adults under the umbrella of "family entertainment". While big budget 3D movies generally cost $200 million, StereoVision's niche is to produce "high quality, low cost" 3D movies that are budgeted between $5 and $25 million.

"No matter how much a movie costs, if it's not selling tickets, the exhibitors, and studios will pull it right out of the theatres," says StereoVision CEO Jack Honour. "Our modestly budgeted movies, five to twenty five million dollars, don't need that many theatres or that long of a run to return to the StereoVision shareholders a substantial value."

Considering that Hogan is very particular about the projects he gets involved in, StereoVision had to create additional value beyond the starring role in the "Kung Fu U 3D" movie. While StereoVision is currently focusing its energies on theatrical releases, there is an emerging market for HD DVD releases of 3D movies.

The technology is not complete, but StereoVision currently films their 3D movies in digital HD to build up its library of HD-ready movies. CEO Jack Honour told shareholders on March 10 that StereoVision plans to be a leader in the market when the technology is available.

"There's a 3D DVD player coming in the next few years that will allow our new generation, polarized 3D movies, to be viewed at home on your plasma and LCD HD TVs," Honour said. "Also, from our discussions with Comcast and others, we've found great enthusiasm for an all-3D TV network. These events would of course bring an added value to a 3D movie library."

StereoVision is hoping to push the technology along, and the involvement of Hulk Hogan in at least one feature film could bring more notoriety to the 3D market, while creating an opportunity for Hogan to potentially be a key player in the family home entertainment market.

"Most certainly internationally recognized superstars like Hulk Hogan doing 3D movies brings a tangible value that will encourage the advancement of technology to accommodate the new earnings opportunities," says Honour.

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