Rentrak to Sell PPT Biz by End of the Year7 Aug, 2014 By: Erik Gruenwedel
Rentrak is on track to sell its legacy pay-per-transaction disc rental business by the end of the year, COO/CFO David Chemerow said on the company’s Aug. 7 fiscal call.
“We plan to sell to a buyer that is fully committed to continue providing our content providers and retailers with outstanding value and service,” Chemerow said, without disclosing details about potential suitors.
Now listed as “discontinued operations” on the income statement, the PPT business generated first-quarter (ended June 30) operating income of $588,000 on revenue of $8.5 million, compared with operating income of $1.3 million and revenue of $12.1 million during the prior-year period.
Portland, Ore.-based Rentrak announced earlier this year it was exiting its namesake business (started in the late 1970s), which enabled video stores to lease studio movies instead of buying them, in order to focus on growing its media measurement and digital operations.
Rentrak publishes weekly charts ranking the top 10 in box office, VOD, DVD sales and rentals, video game sales and TV viewing.