Disney Sells 125,000 Movies on iTunes
With just 75 movies on the iTunes Music Store, Walt Disney disclosed Tuesday it had sold 125,000 videos in just the first week of operation, netting the company $1 million in revenue. Disney, which owns Walt Disney Pictures as well as Pixar, Touchstone Pictures and Miramax Films, said it expects to make $50 million off the venture in just the first year of operation.
Due to disagreements over pricing, other studios have passed over the ITunes movie store in favor of other services with more flexible pricing structures, such as temporary rentals. However, Disney's success could spur others to set aside their differences. Movies are available from iTunes for $9.99, except new releases, which are $12.99 in the first week and $14.99 thereafter.