BlockbusterÆ Announces National Rollout Of DVD Roll-Out Positions Video Retailer As Global Leader In Rentable DVD With DVD Also Available In 1,000 Blockbuster Stores Internationally
Blockbuster Inc. (NYSE: BBI), the global leader in rentable home entertainment, announced today that it will introduce Digital Video Disc (DVD) to almost 3,800 of its U.S. corporate stores by year's end. Additionally, the company will also offer DVD in approximately 1,000 of its international stores. The rollout positions the company as the domestic as well as the global leading rental source for DVD, a product which analysts predict should be in more than four million American households by the end of 1999 and in 40 to 50 million households domestically by the year 2007. According to Blockbuster Chairman and CEO John Antioco, the national introduction of DVD will put the product within easy reach of most American consumers since about 60 percent of U.S. households live within a three-mile drive of a Blockbuster store. ""Now that DVD is about to go mainstream, we want it in all our stores so that this exciting product is easily available to the public. And, of course, as demand for this product increases, we believe that consumers will think of Blockbuster to satisfy their DVD needs just as they do for movies on VHS."" Tom Adams, President of Adams Media Research, a leading media research and consulting firm, explained that the rental of DVD has far surpassed original projections. ""In our original model, some 4,000 video retail stores in the U.S. were expected to be renting DVD by the end of the year. With its national rollout in nearly 3,800 U.S. stores, Blockbuster is nearly doubling that number in one move."" Initially, Blockbuster stores will feature at least 200 titles for rental in the DVD format with additional titles being added each month. ""We think this is exciting news for the industry and a major reason analysts are predicting growth in the category,"" Antioco continued. ""Our goal at Blockbuster is to continue to offer the best in rentable home entertainment and that means the best availability and the best selection in the formats our customers prefer."" About Blockbuster Blockbuster Inc. is a publicly traded subsidiary of Viacom Inc. (NYSE: VIA) and is the nation's leading renter of videos and video games with approximately 6,500 Blockbuster Video stores in the United States, its territories and 25 other countries. The company may be accessed internationally at http://www.blockbuster.com. Viacom Inc. is one of the world's largest entertainment companies and a leading force in nearly every segment of the international media marketplace.