Weekly Rental Spending Hits Lowest Level of the Year17 Oct, 2002 By: Melinda Saccone
Consumer rental spending plummeted to its lowest level this year, registering at $115.7 million for the week ended Oct. 13, down 38.5 percent from the comparable week in 2001.
Spending also was down 4.1 percent from the previous week.
The 41st week of the year is historically a weak rental period, but sales may also be cutting into the rental pie.
Year-to-date rentals continue to fall behind as well. So far this year, consumers have spent a combined $6.9 million at the rental counter, down 10.6 percent from the $7.7 million spent during the comparable period in 2001.
Columbia TriStar's newcomer Enough was the top rental, generating $8.8 million in combined VHS and DVD rentals in its first five days of release. The Jennifer Lopez vehicle narrowly beat Universal Studios Home Video's The Scorpion King for the No. 1 spot. Scorpion King, which stars The Rock, slipped into second place at the rental counter in its second week of release, earning an additional $8.29 million in rental revenue for a cumulative $18.5 million in combined VHS and DVD rentals.
Two other new releases landed among the top 10 rentals for the week ended Oct. 13.
New Line Home Entertainment's Jason X, the 10th installment in the Friday the 13th series, debuted at No. 7, earning $3.95 million in its first five days of release.
Warner Home Video's Scooby-Doo was the only other new release among the top 10 rentals. Despite an atypical Friday release, Scooby and his gang earned $3.89 million in just two days on rental shelves.
While it didn't top the rental chart, Scooby-Doo took top honors at the VHS and DVD sales counters. In just two days of release, the $152.3 million box office hit sold enough cassettes and discs to be the top seller in both formats for the week ended Oct. 13, according to Nielsen VideoScan First Alert data.