Revenue down 0.4% from 2003
DEC. 30 | Consumers spent $8.06 billion on DVD and VHS rentals in 2004, off just 0.4% from a year earlier, according to Rentrak’s Home Video Essentials.DVD rental revenue grew 39.2% to hit $5.73 billion and account for 71% of all consumer spending on rentals. VHS continued to slide, falling 41% to $2.33 billion, and making up just 29% of rental revenue. Several titles released in the second half of the year showed exceptional strength, with Fox’s The Day After Tomorrow ranking No. 1 and Man On Fire ranking No. 3 despite being released in October and September, respectively. While the service showed industrywide rental revenue down as much as 15% earlier in the year, a change to a new model that includes revenue generated by online and in-store rental brought projections essentially even with last year. “Despite sharp year-over-year declines in VHS rental activity, DVD growth within the in-store and online distribution channels helped to stabilize the video rental market virtually on par with last year,” said Rentrak VP Brad Hackley.
|Top 10 Renters|
|Rank||Title (Label/Distributor, Release Date)||Revenue (in millions)|
|1.||The Day After Tomorrow (Fox, Oct. 12)||$67.35|
|2.||Mystic River (Warner, June 8)||66.94|
|3.||Man On Fire (Fox, Sept. 14)||65.22|
|4.||50 First Dates (Sony, June 15)||65.01|
|5.||The Butterfly Effect (New Line/Warner, July 6)||60.05|
|6.||The Last Samurai (Warner, May 4)||58.51|
|7.||Radio (Sony, Jan. 27)||58.10|
|8.||Out of Time (MGM, Jan. 6)||57.51|
|9.||Along Came Polly (Universal, June 8)||57.43|
|10.||Something’s Gotta Give (Sony, March 30)||56.57|
|*Source: Rentrak Home Video Essentials through Dec. 26|
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