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News
Disney: 125K iTunes Movies Sold in a Week
Monday, September 18th, 2006 at 3:00 PM - by Brad Cook
Disney CEO Bob Iger on Tuesday revealed that his company has sold 125,000 movies through the iTunes Store during the past week, creating an additional US$1 million in revenue. "We believe that this is just the beginning and we are extremely confident that we will easily be able to generate about $50 million of incremental revenue in the first year of putting movies on this platform at no marketing expense to us," he told attendees of the Goldman Sachs Communacopia XV Conference in New York City.
According to a transcript obtained by iPodObserver.com, Mr. Iger added: "And very limited additional expense at all, costs really of encoding the film. That's pretty interesting. So clearly customers are saying to us that they want content in multiple ways. We believe in this world that the more often you make content available to buy and the more places you make content available to consume, the bigger the market will be. And so we are very, very bullish on consumption of electronically delivered media."
While his predecessor, Michael Eisner, was often at odds with technology, even going so far as to publicly criticize Apple for its "Rip. Mix. Burn." ad campaign, Mr. Iger took a different approach, saying: "We are taking a very positive or optimistic view about technology. It is our friend. It's a great enabler versus being a threat or a predator."
Thanks to Playlist for the heads-up.
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