Rental Down, Sellthrough Up in 20028 Jan, 2003 By: Hive News
It was a down year at the rental counter, but growth in sales picked up the slack in 2002.
Video Store Magazine market research reports total sellthrough and rental spending for the year was $20.98 billion, versus $20.81 billion in 2001.
2002 rental revenue came in at $8.88 billion, representing an 11.5 percent drop from 2001 rental revenue.
On the sellthrough side, spending for the year tallied $12.1 billion -- an increase of 12.2 percent from sales in 2001. Cassette sales in 2002 fell to $3.42 billion from $5.63 billion in 2001. DVD sales leapt from $5.15 billion in 2001 to $8.68 billion last year.