Rental Spending Still on a Tear After the Holidays18 Jan, 2002 By: Melinda Saccone
U.S. consumer spending on VHS and DVD rentals maintained its holiday momentum, posting significant gains from last year. Consumers spent a combined $191.4 million at the rental counter for the week ending Jan. 13—down 21.3 percent from the previous week that included the New Year's holiday, but up a healthy 24.1 percent from the comparable week last year.
Universal Studios Home Video's The Fast and the Furious continued to dominate at the rental and DVD sales counter for the week ending Jan. 13, while Buena Vista Home Entertainment's The Princess Diaries reigned No.1 in VHS sales.
According to VideoScan First Alert data The Fast and the Furious was consumers' DVD of choice at the sales counter outselling the next closest finisher, MGM Home Entertainment's Jeepers Creepers, by more than three to one.The Princess Diaries remained the top-selling cassette for the week, with DreamWorks Home Entertainment's Shrek, which has shown strong legs at the sales counter sine its release, in the No. 2 spot.
Furious earned an additional $15.9 million in combined VHS and DVD rental revenue, generating upwards of 53 percent more at the rental counter than its next closest competitor—Buena Vista's Scary Movie 2, out for four weeks. In just 12 days of release, Furious, which earned $144.5 million at the box office, generated $34.6 million in combined VHS and DVD rental revenue.
It was a light week for new releases, with only two finding a spot on the top 50 rentals chart and only one of those in the top 10.
MGM's Jeepers Creepers debuted at No. 7, earning $6.93 million at the rental counter in its first five days of release. Columbia TriStar Home Entertainment's Zebra Lounge was the only other new release on the chart, earning $450,000 in its first five days on the rental shelf.
So far this year consumer spending on VHS and DVD rentals has posted a 15.2 percent increase from the comparable two weeks in 2000, with total spending at $434.5 million. DVD rentals are up 115.5 percent from the comparable period last year, totaling $99.9 million and accounting for nearly 23 percent of total rental spending.