That’s what one study is proposing.
In these tough economic times, there are folks who just don’t have the disposable income to rent a flick from Blockbuster. Thus, the supermarket DVD Dollar kiosk arose, and companies like Redbox banked on your semi-empty pockets to bring you entertainment for a low price.
However, their generosity is costing Hollywood a bundle. No, sorry – A BILLION!
The study, complied by the Los Angeles County Economic Development Corp, has concluded that the dollar DVD rentals from Redbox and others have cost the entertainment industry $1 billion to date and will continue to have a “ripple effect,” causing the studios to lose more money and more hired help. Basically, without the revenue from rental sales, a decline in film production will soon have to follow. Thus, more jobs will be lost.
Because of this new information, three major studios – Universal, Fox and Warner Bros. – are in a legal battle with the Redbox DVD rental company. They are eager to prevent their DVDs from making it into the kiosks, while Redbox is countering them lawsuit over “antitrust violations.”
Here’s a crazy idea – how about you stop paying celebrities EXUBERANT amounts of $$$ to be in movies?
You could save a TRILLION right there if you cut back on that!