Home Media Magazine - May 25 - 31, 2008 - (Page 8)

NEWS BRIEFS I EMA PANEL TO FEATURE KEYES, FOX’S DUNN Home Media Magazine publisher and editorial director Thomas K. Arnold will moderate the opening session of the Entertainment Merchants Association’s (EMA) Home Media Expo 2008, featuring prominent home entertainment players discussing the future of Blu-ray Disc. The session will take place June 24 from 9:00-10:45 a.m. at the Palms Casino Resort in Las Vegas. “Moving Forward and Building Growth” will feature Mike Dunn, president of 20th Century Fox Home Entertainment; James W. Keyes, chairman and CEO of Blockbuster Inc.; James L. McQuivey, from Forrester Research, Inc.; and Eisuke Tsuyuzaki, VP, corporate development and GM of the Blu-ray Disc Group, and Panasonic – Billy Gil Corp. of North America. www.homemediamagazine.com Diversity Fuels Hastings’ Profit Amarillo chain spins success out of its entertainment emporium and rentals,” said Edward Woo, analyst with Wedbush By Erik Gruenwedel RETAIL Executing a business plan coveted by a national Morgan Securities in Los Angeles. Merchandise revenue totaled $108.3 million, up 3.1% intrastate brand to the south, Hastings Entertainment from $105 million last year. Inc. has profited from diversity. Principle game software sales included Grand Theft The Amarillo, Texas-based chain posted first-quarAuto IV, Mario Kart ter (ended April 30) inWii, Super Smash Bros. come of $3 million, up Brawl, Army of Two and 20% from $2.5 million Turok. in income in the priorSales of refurbished year period. Apple iPods and MP3 The profit marked players, in addition to the fifth consecutive Sony PlayStation 3 and quarter the Amarillo, Nintendo Wii controlTexas-based retail chain lers, led electronics with 153 stores posted I Am Legend sales. comparable net income Sales of new and used movie DVDs, boxed sets and growth based on a blend of rental and sellthrough, including video games, movies, hardware, books and Blu-ray Discs were led by titles such as I Am Legend, Alvin and the Chipmunks, American Gangster and No coffee, among other products. Dallas-based Blockbuster Inc., which is actively court- Country for Old Men, among others. Movie rental comps increased 3.8%, driven by games, ing consumer electronics retailer Circuit City Stores Inc., has made no secret its desire to embrace entertain- as revenue topped $23 million, compared to $22.9 ment hardware, coffee and snacks, along with its core million the previous year. The retailer said it would continue to focus on movie and game sellthrough versus movie and game rental business. They could do worse than emulate Hastings’ 4.2% rental based on consumer demand. Total retail revenue increased $3.9 million, to $131.9 same-store (open at least 12 months) sales growth, spearheaded by increases in video games (29.8%), million, from $128 million the previous year. “Buy, sell, trade, rent creates a new retailing synergy electronics (26.8%), café (14.2%), consumables (12.5%), by offering greater value and selection,” said John Marbooks (5.6%) and DVDs (3.2%). On the flip side, music CD comp sales declined 16%, maduke, CEO of Hastings. “We have an opportunity to take advantage of weakened competitors with our new compared to a 13% drop during the prior-year period. “Everybody, including Blockbuster and Trans World and used entertainment superstore, while additionally Entertainment Corp., wants to emulate the fast-growing delivering exceptional value to our customers in a difsector of video games over weak ones such as music ficult economic environment.” Report: Blu-ray, Downloads Can’t Save Studios By Erik Gruenwedel RESEARCH Despite the emergence of Blu-ray and projected 14.6% annual growth of electronic media through 2011, spiraling movie production costs threaten studio margins, according to a new report. Adams Media Research found that while major U.S. studio feature film revenue is projected to grow 6% annually from $34.9 billion in 2007 to $41.6 billion in 2011, film budget expenses are growing 10% annually. Major film budgets expanded from $46.9 million in 2004 to $63.2 million in 2007, fueled in part by thirdparty investment from private equity firms, according to the report. Consequently, expenses for Motion Picture Association of America (MPAA) member studios grew from $9.7 billion to nearly $13.2 billion. Tom Adams, president of Adams Media Research, said the arrival of DVD helped studios generate 50% of their revenue. He said Blu-ray would not have the same impact, and new media sources of incremental revenue such as electronic downloads and streaming would only slightly ease the margin declines. “Although we expect continued revenue expansion, the market won’t be returning to DVD-era growth anytime soon, so it’s crucial that studios pare down expanding costs and wisely manage upcoming film slates to maximize their profitability,” Adams said. I UNIVERSAL GETS ‘MOSTLY GHOSTLY’ Universal Studios Home Entertainment Family Productions has acquired distribution rights to R.L. Stine’s Mostly Ghostly from Toonz Animation. The feature-length direct-to-video title will be – Kyra Kudick released in fall 2008. I ANCHOR BAY REPORTS MAD SALES FOR ‘MAD MONEY’ Anchor Bay Entertainment is reporting that Mad Money (released May 13), the ﬁrst theatrical release from sister company Overture Films, shipped 2 million units. According to Anchor Bay, 60% of sellthrough units have been bought by consumers. “The title establishes a record for Anchor Bay on multiple levels,” said Bill Clark, president of Anchor Bay Entertain– Chris Tribbey ment. I EAA HOSTS 6TH ANNUAL WINE & WISDOM The Entertainment AIDS Alliance (EAA) will host the 6th annual Wine & Wisdom fundraiser June 12 at the Skirball Cultural Center in Los Angeles. Supporting the Elizabeth Taylor Endowment Fund, all proceeds from the event will go toward the UCLA AIDS Institute’s CARE Center. For more information, call 213-8336694, or visit www.entertainmentAIDSal– Chris Tribbey liance.org. First Run Lets Icarus Label Fly By Erik Gruenwedel irst Run Features last week sold its financial stake in 21year-old documentary label First Run/Icarus Films back to Icarus Films for an undisclosed amount. The label will change its name to Icarus Films June 1 and will continue wholly owned by Jonathan Miller, who continues as president. First Run will continue to release select nontheatrical (DVD) titles through Icarus. This fall, Miller said Icarus would launch its first line of DVDs with probable electronic distribution through a variety of channels, including iTunes. “Both of the businesses have grown and diversified in different areas,” Miller said. “It was a good time to separate.” Specifically, Icarus’ focus is on documentaries, which represent PEOPLE I CINRAM CFO DEPARTS Cinram International Income Fund announced that 32-year company veteran Lewis Ritchie is stepping down as EVP of ﬁnance and CFO effective June 30. – Billy Gil 95% of the company’s 800-title library, according to Miller. The new indie Sept. 2 will release its first DVDs, including a two-disc set from 87-year-old French documentary filmmaker Chris Marker. The boxed set ($34.98) includes The Last Bolshevik, showcasing Russian director Aleksandr Medvedkin, and his film Happiness. Other DVDs include Remembrance of Things to Come ($24.98), The Case of the Grinning Cat ($29.98), The Sixth Face of the Pentagon and The Embassy (both $24.98). LEGEND NABS PARAMOUNT TITLES By Chris Tribbey I REDBOX APPOINTS HARVEY Redbox has hired John Harvey as CFO. The former EVP and CFO at JetBlue Airways Corp. brings more than 20 years of experience in ﬁnancial management. – Ruby Cardenas I INDICAN OFFERS CONCERT CONTEST Indican Pictures is giving one lucky buyer of its Legend of God’s Guns DVD (streeting Aug. 12 at $24.99) a free concert at home. SpinDrift, the all-acoustic spin-off of rock band the Dandy Warhols, which did the soundtrack for the Western ﬁlm, and Gram Rabbit, a band that was in the ﬁlm itself, will come to play at the winner’s house all night. – Chris Tribbey Legend Films has picked up 32 titles from Paramount Home Entertainment for video distribution. Each DVD will be priced at $14.95. Legend also announced that the company will selfdistribute all the titles and will handle marketing and public relations duties as well. “Legend Films combed the vaults to find these great film gems, all of which have never been released in North America on DVD,” said Legend Films president Bob Pollack. SUPPLIER The first wave of films will be released June 3 and includes Almost an Angel, King of the Gypsies, The Optimists, The Possession of Joel Delaney, Villa Rides, Mandingo, Student Bodies, Some Kind of Hero and The Skull. The second wave, July 1, will include Rhubarb; Partners; Daniel; French Postcards; Man, Woman and Child; Money From Home; Baby, It’s You; and Papa’s Delicate Condition. Separately, the company has hired John Bergeson as EVP of sales. I ENTERTAINMENT RIGHTS NAMES MILBURN U.K.-based Entertainment Rights has appointed Fabian Milburn SVP, business affairs, North America and global digital. The former SVP of business operations at Oxygen Media will be based in New – Billy Gil York. Home Media Magazine May 25–31, 2008 http://www.homemediamagazine.com http://www.entertainmentAIDSalliance.org http://www.entertainmentAIDSalliance.org

Table of Contents Feed for the Digital Edition of Home Media Magazine - May 25 - 31, 2008

Home Media Magazine - May 25 - 31, 2008 Contents News Hardware Commentary TV DVD Reviews Pipeline Research Top 20 DVD Sellers Top 20 Rentals and Top 10 Charts Just Announced

Home Media Magazine - May 25 - 31, 2008

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