Andre Yoskowitz
4 Jun 2007 14:36
According to an announcement by Lions Gate Entertainment, 15 movies it has made available on Xbox Live has helped to boost digital revenue by almost 50 percent. The company revealed that over 150,000 download rentals had been made for those films.
The company released the films on XBL in February and were priced at 320 Microsoft points for standard DVD rentals and 480 points for HD rentals. In dollars, those points are equivalent to $4 and $6 USD respectively.
Lions Gate CEO Jon Feltheimer said that video-on-demand (VOD) sales for the film Employee of the Month "exceeded USD 3 million on a film that grossed about USD 27 million at the domest box office".
He added, "Our VOD revenues grew by approximately 50 per cent in fiscal 2007 from the previous year... Our Internet delivered digital revenue grew by a multiple of seven in fiscal ’07 compared to the prior year, although obviously from a relatively small base."
Lions Gate president Steve Beeks also added, "This is an extremely promising sign for our entire library and the power of the virtual shelf space of digital delivery."
Source:
GI.biz