Lovefilm shows that Blu-ray Rental is proving to be popular despite some suggesting that digital downloads will overtake blu ray before it gets going.
“We are amongst the sharp edge of the UK entertainment scene and we’ve seen good uptake of Blu-ray”, Simon Morris, director for Lovefilm. “Time is not on its side, but it has got more time than you think.”
The comments come as the online DVD rental market has now surpassed high street rentals.
The demise of the Easy Cinema easyCinema low cost movie theaters sign being painted over in Central Milton Keynes
LOVEFiLM will acquire Amazon Europe’s DVD rental business in the U.K.
As part of the transaction, Amazon Europe will also make a cash investment and become the largest shareholder in LOVEFiLM Ltd. Amazon Europe will also promote LOVEFiLM on its sites for British and German customers.
Following completion of the deal, the new Lovefilm subscriber base will come to more than 1M customers predominantly in Britain and Germany.
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Lovefilm, Europe’s largest online DVD rental group, has appointed Goldman Sachs to advise it ahead of a possible £100 million flotation. Goldman is reviewing all options for the business, including a possible sale or a float. A flotation could value the business, which has operations in the UK, Sweden, Norway, Denmark and Germany, at about £100 million. But an adviser to the company said that a flotation was likely to be a year away.
Lovefilm, whose backers include Esprit Capital Partners, the former Cazenove Private Equity and Index Ventures, allows subscribers to order films online, which are then posted out with a prepaid return envelope. There is no deadline or “late fees” for returning the fim and once they have been received others can be ordered.
The attraction to buyers lies in Lovefilm’s database of subscribers. In four years Lovefilm has amassed nearly 500,000 subscribers. It generates more than five million postal transactions each month. Online DVD rental is putting increasing pressure on traditional bricks-and-mortar film rental stores such as Blockbuster.
Screen Digest has forecast that, by 2009, online rental companies will have one quarter of the market in America and one third in Europe.
MyMovieStream has bought another online dvd rental company – MovieMine
Quote from moviemine website:
As of Friday 6th April 2007, MovieMine has joined forces with award-winning MyMovieStream and the “Stream Team” are delighted to extend you a very warm welcome!
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Market leader Lovefilm now estimates that online DVD rental as a whole now accounts for 25% of all DVDs rented in the UK, including all the bricks-and-mortar stores. Not bad for an industry which didn’t exist just a few years ago.
Copyright © 2009 Online Rental Blog // Online Rentals 25% of UK Total Rentals
