Rentrak: 2005 Video Rentals Down Slightly16 Jan, 2006 By: Erik Gruenwedel
Total U.S. consumer spending for combined DVD/VHS rentals and previously viewed titles dropped 1.8 percent, to $8.8 billion, in 2005, according to data released by Rentrak Corp.
The tally came despite a 9 percent increase in video rentals in November and December.
Consumers spent $8.9 billion on a la carte, in-store and online subscription rentals in 2004.
“Taking into account the myriad of choices consumers have with competing forms of entertainment, the video rental market performed considerably well,” said Brad Hackley, VP of Home Video Essentials at Portland, Ore.-based Rentrak. “Our research shows that the home video rentals industry is a stable market and, with high definition DVD on horizon, should remain so moving forward.”