Best Buy Q1 Entertainment Sales Drop 11%21 May, 2015 By: Erik Gruenwedel
Best Buy May 21 continued a sluggish quarterly retail trend for home entertainment, reporting an 11% drop in same-store entertainment revenue for the first quarter (ended May 2). Comparable entertainment revenue increased 1.5% during the previous-year period.
Entertainment, which includes DVD and Blu-ray Disc movies, video games, music and books, represented 7%, or $553 million, of Best Buy’s $7.9 billion in domestic revenue. Entertainment represented 8%, or $624 million, of $7.8 billion in total domestic revenue a year ago.
A notable home entertainment driver last year was Walt Disney Studio Home Entertainment’s animated hit Frozen. The title, which was the No. 1 selling disc of 2014, sold more than 18 million discs domestically, generating $335 million in revenue.