Yes! The Digital Cinema standards support: 24, 25, 30, 48, 50, 60, and 120fps. The distribution channels exist for these frame rates, the challenge is finding a way to use them in a way that doesn't look displeasing.
Ang Lee shot Billy Lynn at 120fps and Sony Pictures had every intention to distribute it in 120fps. In fact they created a version at 24fps for legacy sites, 60fps as well as a 120fps version. At the last minute the studio pulled the 2 HFR versions and released only the 24fps version (note: not pulled for technical reasons) I've seen 20 minutes of the 120fps version and personally did not like the look.
It remains to be seen if James Cameron can utilize HFR in a manner that the general public finds appealing. He has stated that the Avatar features will utilize high framerates in some way.
Ang Lee shot Billy Lynn at 120fps and Sony Pictures had every intention to distribute it in 120fps. In fact they created a version at 24fps for legacy sites, 60fps as well as a 120fps version. At the last minute the studio pulled the 2 HFR versions and released only the 24fps version (note: not pulled for technical reasons) I've seen 20 minutes of the 120fps version and personally did not like the look.
It remains to be seen if James Cameron can utilize HFR in a manner that the general public finds appealing. He has stated that the Avatar features will utilize high framerates in some way.