Rentrak Launches Home Video Essentials 2.0
RENTRAK ANNOUNCES LAUNCH OF ITS NEXT-GENERATION
HOME VIDEO ESSENTIALS PLATFORM
- Expanded Reach and New Methodology Reveals a More Stable Economy for the U.S. Video Rental Industry -
PORTLAND, Ore. - November 10, 2004 - Rentrak Corporation (Nasdaq: RENT) today announced the launch of Home Video Essentials(tm) 2.0 - its next-generation platform for measuring and reporting consumer transactions of DVD, VHS and video game rentals.
Based upon newly developed code architecture, Home Video Essentials(tm) 2.0 incorporates first time ever point-of-sale reporting from both online and in-store subscription programs as well as sales revenue from previously viewed DVDs and VHS cassettes. The new system also reports comprehensive rental activity from the Canadian territories.
According to Home Video Essentials'(tm) new projection methodology, innovations in the video rental market are beginning to pay off in the industry's battle against the growth in DVD sell-through. For the first three quarters of 2004, U.S. consumer rental spending on a la carte and subscription rentals is down just (-) 1.7% from the same period in 2003. Incorporating the new previously viewed sales metrics from Home Video Essentials 2.0, the picture improves with an overall industry performance increase of
(+) 1.2% from the prior year.
"The U.S. video rental industry has evolved from its brick-and-mortar roots with a one price per rental plan to include subscriptions, previously viewed product for sale, and online vendors," said Brad Hackley, vice president of business development for Home Video Essentials at Rentrak. "We therefore had to incorporate these components to accurately report the state of the industry."
"With these metrics incorporated into our new model, and a footprint extending across North America, Rentrak remains the market leader and industry standard for measuring consumer spending on video and video game rentals and the sale of previously viewed titles," said Hackley.
About Home Video Essentials
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 and previously-viewed sales transactions on over 40,000 DVD, VHS, and video game properties.
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.
HOME VIDEO ESSENTIALS PLATFORM
- Expanded Reach and New Methodology Reveals a More Stable Economy for the U.S. Video Rental Industry -
PORTLAND, Ore. - November 10, 2004 - Rentrak Corporation (Nasdaq: RENT) today announced the launch of Home Video Essentials(tm) 2.0 - its next-generation platform for measuring and reporting consumer transactions of DVD, VHS and video game rentals.
Based upon newly developed code architecture, Home Video Essentials(tm) 2.0 incorporates first time ever point-of-sale reporting from both online and in-store subscription programs as well as sales revenue from previously viewed DVDs and VHS cassettes. The new system also reports comprehensive rental activity from the Canadian territories.
According to Home Video Essentials'(tm) new projection methodology, innovations in the video rental market are beginning to pay off in the industry's battle against the growth in DVD sell-through. For the first three quarters of 2004, U.S. consumer rental spending on a la carte and subscription rentals is down just (-) 1.7% from the same period in 2003. Incorporating the new previously viewed sales metrics from Home Video Essentials 2.0, the picture improves with an overall industry performance increase of
(+) 1.2% from the prior year.
"The U.S. video rental industry has evolved from its brick-and-mortar roots with a one price per rental plan to include subscriptions, previously viewed product for sale, and online vendors," said Brad Hackley, vice president of business development for Home Video Essentials at Rentrak. "We therefore had to incorporate these components to accurately report the state of the industry."
"With these metrics incorporated into our new model, and a footprint extending across North America, Rentrak remains the market leader and industry standard for measuring consumer spending on video and video game rentals and the sale of previously viewed titles," said Hackley.
About Home Video Essentials
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 and previously-viewed sales transactions on over 40,000 DVD, VHS, and video game properties.
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.
