iTunes nets US$1m in movie sales for Disney in a week

In only a week, The iTunes Store generated US$1 million in movie sales for Walt Disney Co., and that's "just the beginning," its CEO said..

In only one week, Apple Computer's iTunes Store generated US$1 million in movie sales for Walt Disney, and that's "just the beginning," the head of Disney said Tuesday.

By the end of this year, Disney expects to reap US$50 million in movie sales through the iTunes Store "at no marketing expense to us at all," said Robert Iger, chief executive officer (CEO) of Disney, at a conference put on by The Goldman Sacks Group and webcast over the Internet.

Disney became the first company to offer movies through the iTunes Store last week, a total of 75 films including new titles such as "Pirates of the Caribbean: The Curse of the Black Pearl," and older classics such as "The Incredibles" and "Cinderella."

The initial success of the venture, with over 125,000 Disney titles sold in a week, should help boost confidence in the Internet as a lucrative place for entertainment companies to deliver content to users. It should also help allay fears over movie piracy, an issue the movie and recording industry has fought a tough battle against.

"We are very, very bullish on consumption over electronically delivered media and we're taking a very optimistic view of technology as a friend, or a great enabler, and not a great predator," Iger said.

Disney plans to expand the number of movies it offers through iTunes and the number of Web-based stores where users can buy its movies. "This is not exclusive to Apple," he said.

During the Goldman conference, Iger also praised Apple CEO Steve Jobs and his performance as a Disney board member for bringing in his ideas on new opportunities for media in the Internet age.

"He has become, very quickly, not only a great sounding board but a great advisor, someone I can turn to readily for advice in a lot of these areas," said Iger.

Jobs became a major shareholder and board member of Disney after the media and entertainment giant bought computer animation studio Pixar earlier this year. Jobs had been head of Pixar and a major shareholder in the company.

An audio webcast of comments by Iger can be accessed via this link:

http://phx.corporate-ir.net/phoenix.zhtml?p=irol-eventDetails&c=129198&eventID=1387697

Join the newsletter!

Or
Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Dan Nystedt

IDG News Service
Show Comments

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Walid Mikhael

Brother QL-820NWB Professional Label Printer

It’s easy to set up, it’s compact and quiet when printing and to top if off, the print quality is excellent. This is hands down the best printer I’ve used for printing labels.

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Featured Content

Product Launch Showcase

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?