EXCLUSIVE RESEARCH: Rentals Fall During Week Before Labor Day5 Sep, 2002 By: Melinda Saccone
Consumer rental spending for the week ended Sept. 1 fell as consumers stayed away from video stores during the Labor Day weekend.
Consumers spent $193.1 million on VHS and DVD rentals for the week --down 2.3 percent from the previous week and down 11.6 percent from the comparable period in 2001.
Three new releases debuted among the top 10 rentals for the week. Leading the pack was Buena Vista Home Entertainment's The Rookie, which earned $11.43 million in its first five days of release. Twentieth Century Fox Home Entertainment's High Crimes debuted in the No. 2 spot with $9.84 million, and Warner Home Video's Queen of the Damned started its rental run at No. 8 with $5.94 million.
Meanwhile, year-to-date spending continues to trail spending totals for the comparable period in 2001. So far this year, consumers have spent $6.05 billion on combined VHS and DVD rentals -- down 7.3 percent from the $6.53 billion spent in 2001.