Rentrak Acquires 'Salvation'4 Jan, 2011 By: Erik Gruenwedel
Rentrak Corp. Jan. 4 said it has acquired Media Salvation Inc., a provider of sales and financial reporting systems in the physical and digital space for movies studios and independent distributors.
Portland, Ore.-based Rentrak said the deal helped secure an unnamed major studio to its suite of data measurement services, including “studio revenue share essentials,” “digital download essentials” and “mobile essentials.”
Media Salvation head David Cortese becomes SVP of digital studio services with Rentrak. Prior to launching Media Salvation in 2009, Cortese spent eight years at Sony Pictures Home Entertainment, where he was worldwide chief information officer.
"As consumers continue to shift their entertainment consumption from physical formats (discs) to electronic (downloads/streams), this acquisition further strengthens Rentrak's ability to provide our studio and network clients with the sales and financial reporting and intelligence they need to effectively manage this transition," said Marty Graham, president of home entertainment at Rentrak.
Indeed, Rentrak a decline in its signature disc rental revenue-sharing program contributed to the company posting a 40% drop in net income to $408,000 during the most recent financial period.