Consumers Go to <I>School</I> at the Video Counter21 Jun, 2003 By: Melinda Saccone
DreamWorks' Home Entertainment's comedy Old School turned in solid performances at both the sales and rental counter in its first week of release.
Old School was consumers' DVD of choice at the sales counter for the week ended June 15, nearly doubling the sales of its next-closest competitor, Columbia TriStar Home Entertainment's Tears of the Sun, according to VideoScan First Alert data.
Video Store Magazine market research estimates that more than 1 million units of the title were shipped into the rental pipeline, with nearly two-thirds of those units in the disc format. In its first week of release, Old School generated $11.24 million in rental revenue, for a second-place finish.
MGM Home Entertainment's latest Bond flick, Die Another Day, remained the top rental, earning an additional $13.19 million in rental revenue in its second week of release. Video Store Magazine market research estimates nearly 2 million units of the actioner were shipped into the rental pipeline, with nearly three-fourths of those units on disc. Die Another Day dropped to No. 3 in disc sales from No. 1 last week, according to VideoScan First Alert data.
Buena Vista Home Entertainment's The Jungle Book 2 swung to the top of the VHS sellers chart for the week ended June 15. Consumers purchased 10.63 copies for every one copy of New Line Home Entertainment's About Schmidt (No. 2).
While The Jungle Book 2 took a fifth-place ranking in DVD sales for the week, it sold 78 percent more units on disc than on cassette, according to VideoScan First Alert data, indicating that children's and family fare -- some of the slowest market segments to transition to disc -- are now entrenched in DVD.
Stellar sales of The Jungle Book 2 mired its rental demand, as the sequel debuted at No. 20, with $1.72 million in first-week rental revenue.
Rental spending continues to gain ground over last year. In the first 24 weeks of the year, consumers have spent $4.36 billion on DVD and VHS rentals, up 5.2 percent from the comparable period in 2002.