Your home theater needs red velvet curtains!  You can hang a rod above your projection screen and let the curtains hang to the sides or pull them back with holdbacks.  Or you can cover an entire wall with them.  In this case, order a round rod in a size that works with your curtains and two end caps.  These allow you to butt the end caps against the wall so the whole wall is covered with no gaps. 

If you want the curtains to cover multiple walls, go with a corner curtain rod so there is no breaks in the curtains.  You can pull curtains over the brackets for a finished look.

Overstock.com usually has some very reasonable priced red velvet curtains.  You can also check out JC Penney, Pottery Barn and Bed Bath and Beyond.