With the start of this year's Home Media Expo the first presentations are done and the first record is announced. Lionsgate president Steve Beeks announced that the studio managed to boost its first-quarter share of consumer spending to a record $575 million, for its best-ever market share of 9%.
Nearly half of the studio's total revenue came from the home entertainment industry and this was mainly due to DVD sales. Beeks told The Hollywood Reporter that they're happy about Lionsgate's growth in the so-called mature market. A total of 12 movies will be released between now and Christmas which is expected to bring the studio a new record in the first quarter of 2009.
"They're going to take this company to a different level," said Ron Schwartz, executive vp and GM of Lionsgate's home entertainment division, to THR. With massive growth ahead and huge trust in new solutions like Blu-ray, Lionsgate expects to finish ahead of at least one or two of the six major players. In other news we've reported possible downfalls in Blu-ray sales, and even the end of the format by 2013. Lionsgate expects this not to happen and says that the new format is more than making up for any slowdown in DVD sales.
Like every studio Lionsgate has to find a way to increase Blu-ray sales in combination with continuing DVD sales. In the upcoming days we will see how market insiders think to do this, with more news from the Home Media Expo ahead.
