HIVE EXCLUSIVE RESEARCH: 'Traffic' Tickets Fast Lane to No. 1 Rental and DVD in First Week; June Loaded With Hot Releases8 Jun, 2001 By: Judith McCourt
USA Home Entertainment’s Traffic grabbed lots of attention in its first week of release, taking theNo. 1 spot on Video Store Magazine’s rental chart as well as claiming the No.1 spot on VideoScan’s First Alert DVD top sellers chart for the week ending June 3.
Meanwhile, Buena Vista Home Entertainment’s The Emperor’s New Groove remained the solid champion of VHS sales, extending its reign for the fifth consecutive week.
Traffic grossed $10.02 million in its first five days on the rental shelf. Released May 29, the title is a harbinger of the hard-hitting June video release schedule. Starring Catherine Zeta Jones, Michael Douglas and Benicio Del Toro, the film won four Academy Awards and earned $123.8 million on the big screen.
Looking ahead, June is loaded with hot releases. In total, 17 theatrical releases with a combined theatrical gross of more than $700 million will debut on video in June. By comparison, the June 2000slate totaled $537.5 million. Top releases this month include Twentieth Century Fox Home Entertainment’s Cast Away ($233.3 million box office), due June 12; Columbia TriStar HomeEntertainment’s Crouching Tiger, Hidden Dragon ($127.2 million box office), coming June 5; Paramount Home Entertainment’s Save the Last Dance ($90.1 million box office), due June 19; andBuena Vista Home Entertainment’s Unbreakable ($95 million box office), on tap June 26.
Combined DVD and VHS rental spending for the week ending June 3 registered $148.26 million, up 2% from the comparable week last year. VHS rental spending tallied $130.5 million compared to $139.8 million in the week last year, while DVD rental spending jumped to $17.8million for the week compared to last year’s $5.5 million.
Consumers have spent $3.8 billion at the rental counter so far this year, up 9.2% from the $3.5 billion spent at the same point last year.