Rentrak Releases Third Quarter Research on the U.S. Home Video Rental Market
Rentrak Releases Third Quarter Research on the U.S. Home Video Rental Market
Home Video Market Down 11% from Last Year with Economic and Market Conditions Driving Rentals Down
PORTLAND, Ore., Oct. 6 /PRNewswire-FirstCall/ -- Rentrak Corporation (NASDAQ:RENT), the originator of real-time home video tracking and analysis by Home Video Essentials(TM), announced today that research indicates that consumer rental spending during the third quarter (weeks ending 7/10 - 10/2/05) was down 11% from the same time period in 2004 (weeks ending 7/4 - 9/26/04).
According to Rentrak's Home Video Essentials(TM) 2005 Third Quarter Report on the U.S. Home Video Rental Market, consumers decreased their spending on a la carte and subscription DVD and VHS rentals from the brick-and-mortar and online channels by more than $218 million during the thirteen-week period.
"The video rental market is experiencing a temporary slump due to a slowdown in the flow of compelling content, plus the summer season is been traditionally lighter as compared to other quarters," said Brad Hackley, Vice President of Business Development at Rentrak. "The implementation of new video store and online subscription models has also been a contributing factor," Hackley added.
The report evaluates the impact of the subscription model on rental turns and the national average rental rate, along with VHS-to-DVD format transference, category surplus, consumer spending on previously-viewed product, top renting titles, box office equity measures, and studio market shares all broken-out by DVD and VHS formats.
Highlights from the report, to be released next week, include: -- Consumer rental spending reached $1.75 billion for the quarter -- Multiple Oscar(R) winner Million Dollar Baby ranked as the number one renting theatrical video -- Lost: The Complete First Season was the most rented TV DVD -- Warner Home Video earned the largest market share in Q3
For more information about the upcoming Rentrak Home Video Essentials(TM) Third Quarter Report on the U.S. Home Video Rental Market, or to pre-order a copy contact: HVEeMedia@rentrak.com.
About Home Video Essentials(TM)
Home Video Essentials(TM) Industry Data Service, part of Rentrak's Entertainment Essentials(TM) suite of web-based information management and business intelligence products, is Rentrak's exclusive point-of-sale (POS) tracking system which measures weekly national consumer spending and title- level performance via rental transactions on over 40,000 DVD, VHS, and video game properties in both brick-and-mortar and online channels across North America.
About Rentrak Corporation
Rentrak Corporation, based in Portland, Oregon, is the developer of the Essentials(TM) suite of web-based information management and business intelligence products used by clients in the media, entertainment, retail and manufacturing industries. Vertical market editions of Essentials(TM) applications are customizable to the needs of each licensee, allowing marketers to collect, manage, analyze and make critical business decisions based on detailed, real-time point-of-sale and supply chain data. The Essentials(TM) suite of services offers competitive advantages to executives by providing timely and actionable insight into their own company's performance in tandem with valuable perspective against aggregated industry- wide data. For further information, please refer to Rentrak's corporate Web site at http://www.rentrak.com/.
Contacts:
News Media Rogers & Cowan Sallie Olmsted/Susan Yin 310-854-8124/8145 solmsted/syin@rogersandcowan.com
Source: Rentrak Corporation
CONTACT: Sallie Olmsted, +1-310-854-8124 or solmsted@rogersandcowan.com, or Susan Yin, +1-310-854-8145 or syin@rogersandcowan.com, both of Rogers & Cowan, for Rentrak Corporation
Web site: http://www.rentrak.com/
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