Friday, September 02, 2011
Hurricane Irene frightens movie goers away from Cinemas
A view of a nearly deserted 7th Avenue near Times Square in Manhattan as Hurricane Irene closed in on the New York City area August 28, 2011. Hurricane Irene battered New York with heavy winds and driving rain on Sunday, shutting down the U.S. financial capital and most populous city, halting mass transit and causing massive power blackouts as it churned slowly northward along the eastern seaboard. Photo Credit: The Christian Post.
Who goes to the movies in a stormy weather?
Rentrak the leader in multi-screen media measurement reported that movie ticket sales dropped by 18.9 percent due to Hurricane Irene, as compared to the same weekend in 2010.
New York, Boston and New Haven in the Northeast were the most affected by the horrifying hurricane. But the overall theatrical box office sales increased by 3.9 percent from the beginning of the summer 2011 box office period.
The following is the full report of the impact of Hurricane Irene on movie theaters across the U.S.
2 Sep 2011 12:00 Africa/Lagos
Hurricane Irene kept most New Yorkers away from the theaters. Photo Credit: In Sing News
Rentrak Announces the Impact of Hurricane Irene on Movie Viewing Across Box Office, Home Entertainment and On-Demand Usage
—Movie Fans Not Deterred By Hurricane As Storm Activity Boosts Home Entertainment Rentals and Paid On-Demand Viewing During Severe Weather—
PORTLAND, Ore., Sept. 2, 2011
PORTLAND, Ore., Sept. 2, 2011 /PRNewswire/ -- Rentrak Corporation (NASDAQ: RENT), the leader in multi-screen media measurement serving the advertising, television and entertainment industries, today announced the impact of Hurricane Irene on multi-screen movie watching behavior.
While movie theater ticket sales and in-theater viewing were negatively impacted in some areas of the Northeast as consumers could not travel to their local movie theater, at the same time many consumers added renting DVD and Blu-ray disc movies to their storm countdown preparations. Where electricity was intact, many consumers watched an increased number of paid VOD movies while stuck indoors due to heavy rain.
At movie theaters, Rentrak's Box Office Essentials™ reported that movie ticket sales dropped 18.9 percent due to the hurricane, as compared to the same weekend in 2010. While Hurricane Irene did dampen tickets sales this past weekend in the Northeast with New York, Boston and New Haven most impacted, theatrical box office sales are overall up 3.9 percent from the beginning of the summer 2011 box office period.
According to Rentrak's Home Video Essentials™, on Saturday, August 27, 2011 while Hurricane Irene moved its way up the Eastern seaboard coast, the number of DVDs and Blu-ray discs rented in the coastal states north of Virginia increased, ranging from 30% to as high as a 300% increase in physical media rentals in some instances. Once the effects of Hurricane Irene were starting to be felt north of Virginia late on Saturday afternoon and continuing into Sunday, then disc rentals dropped dramatically down to levels 20-40% below the weekend period prior to the severe weather activity (August 19 – 21, 2011).
Rentrak also reported information from its OnDemand Essentials™ service for On-Demand viewing via cable and other TV services, for paid movie content during the hurricane weekend period. Across the Northeast & Mid-Atlantic Census Regions of the U.S., Rentrak saw a ten percent increase in transactions on demand for paid movie viewing usage for that part of the country.
"On Saturday, August 27th, while Hurricane Irene was hitting the Southeastern coastal states, people from states north of Virginia still had relatively good weather so they went out and rented a large number of DVDs and Blu-ray discs in preparation for being stuck indoors when Irene continued up the coast," said David Paiko, Vice President of Home Entertainment at Rentrak Corporation. "While it was logical that bad weather impacted movie-going in theaters in the same region, Hurricane Irene drove a significant increase in movie rentals across bricks and mortar locations, as well as a spike in paid VOD movie transactions."
The Northeast & Mid-Atlantic Census Regions are made up of Main, Vermont, New Hampshire, Massachusetts, Rhode Island, Connecticut, New York, New Jersey and Pennsylvania. No other region of the country saw this increase in VOD usage during this past weekend.
About Rentrak Corporation
Rentrak (NASDAQ: RENT) is a global digital media measurement and research company, serving the most recognizable companies in the entertainment industry. With a reach across numerous platforms including box office, multi-screen television, and home video, Rentrak has developed more efficient metrics to be used as database currencies for the evaluation and selling of media. Rentrak is headquartered in Portland, Oregon, with additional U.S. and international offices. For more information on Rentrak, please visit www.rentrak.com.
Contacts for Rentrak Corporation:
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SOURCE Rentrak Corporation
Web Site: http://www.rentrak.com