Red Envelope Madness!

Thursday, May 05, 2005

Internet piracy fails to sink film profits

Guardian Unlimited: "Despite fears that internet piracy would dent its profits, Hollywood has had a buoyant year.

Worldwide revenues from cinema tickets, videos and DVD sales, as well as television rights, reached a whopping $44.8bn last year, up 9% from 2003.

Record DVD sales fuelled the increase, up 14% in the US and 46% worldwide, but most other sectors did better than last year." Read more

Time-Warner also had a banner year, and their DVD sales were not hurt by piracy or Netflix.

via Bloomberg.com: "Revenue from home-video releases jumped 41 percent to $1.27 billion...DVD sales soared 53 percent to $1.2 billion, their biggest gain in two years... " Read more

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