Warner's <I>Kangaroo Jack</I> Hops to Top of Sales Charts3 Jul, 2003 By: Melinda Saccone
Warner Home Video's Kangaroo Jack hopped off sales shelves and into consumers' baskets to become the top-selling video for the week.
Kangaroo Jack took top honors in both disc and cassette sales, according to VideoScan First Alert data for the week ended June 29. While the comedy had lots of kid appeal and typically family fare has been entrenched in cassette, DVD was consumers' format of choice for purchase. Disc sales of Kangaroo Jack accounted for 82.6 percent of all copies sold, according VideoScan First Alert data.
The comedy also turned in a solid performance at rental, earning $9.33 million in its first five days on rental shelves for a third-place finish. Rentailers favored disc for their rental inventory over cassette. Video Store Magazine market research estimates that 62.5 percent of Jack units shipped to rental were on disc.
More than half of new-release purchases for rental are now on disc (52 percent), up from just 36 percent in January of this year, according to Video Store Magazine market research.
Strong product in the pipeline, coupled with an increase in consumer leisure time now that summer is in full swing, led to strong demand at the rental counter. For the week ended June 29, consumers spent $217.4 million on video rentals, up 7.5 percent from the previous week and up 27.6 percent from the comparable week last year.
The top 50 rentals for the week ended June 29 turned in a much stronger performance overall than their 2002 counterparts. This year's top 50 rentals generated 22.5 percent more rental revenue for the week than their 2002 counterparts.
Indeed, the strong slate landed three new releases at the top of the rental charts. In addition to Kangaroo Jack at No. 3, two other newcomers -- Columbia TriStar Home Entertainment's Punch-Drunk Love and MGM Home Entertainment's Dark Blue -- took the No. 1 and No.2 spots, respectively.
Year-to-date rental spending stands at $4.79 billion, up 6.5 percent from the same period last year.