<I>Deeds</I> Goes to Town at Rental, Scoob and E.T. Top Sales31 Oct, 2002 By: Melinda Saccone
Columbia TriStar Home Entertainment's Mr. Deeds went to town at the rental counter while an extraterrestrial and an animated dog ruled sales for the week ended Oct. 27.
Warner Home Video's Scooby-Doo held on as the top cassette at the sales counter for the third consecutive week since its release Oct. 11, according to Nielsen VideoScan First Alert data. Universal Studios Home Video's re-release of the 1980s classic E.T.: The Extra-Terrestrial grabbed top honors at the DVD sales counter and was the No. 2 VHS seller for the week.
Mr. Deeds, priced for sellthrough on both VHS and DVD, debuted as the No. 4 VHS seller and the No. 2 DVD seller for the week.
Loosely based on the 1936 Oscar-winning Mr. Deeds Goes to Town, the Adam Sandler vehicle, which tallied $126 million in theaters, was the top rental title, earning $10.04 million in combined VHS and DVD rental revenue in its first five days of release.
Rental spending registered $138.4 million for the week, down 3.2 percent from the previous week and down 17.8 percent from the comparable week in 2001.
Cassette rentals continue to wane, posting a 5 percent decline from the previous week and a 43.9 percent decline from the same week last year, to $77.5 million. So far this year, consumers have spent $4.8 billion renting the format, down 31.6 percent from the $6.98 billion spent during the comparable period in 2001.
Disc rentals for the week ended Oct. 27 posted a 1 percent decline from the previous week, registering $60.9 million, but grew 100.9 percent from the comparable week last year. Consumers have doled out $2.4 billion renting discs this year, up 124.8 percent from the $1.08 billion spent in the first 43 weeks of 2001.
Despite DVD's gains, the VHS fall continues be a drag on total rentals. Consumers have spent $7.2 billion in combined VHS and DVD rental revenue this year, down 10.6 percent from the $8.06 billion spent during the comparable period last year.