Rental finishes flat in 2004
Revenue down 0.4% from 2003
By Marcy Magiera -- Video Business, 12/30/2004
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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