Video boom in store?
If news from the United States is anything to go by, boom times may be on the way for the video industry in New Zealand. Industry experts in the States are tipping cassette rentals and sales this year to top $4 billion, eclipsing the total theatrical box office take — but there is no run-down of the films that will eventually be seen on video. The first five months of this year saw 200 new features going into cinemas in the United States.
During that time the box office rankings were: Warner 18.6 per cent, Paramount 12.9, Universal 12.3, Columbia 8.8 and Disney 8.6.
Combine Paramount and Universal’s figures, and C.I.C. Taft, which handles all their video products, is sitting pretty with more than 25 per cent of the movie industry’s biggest money spinners. Soon to go out on video in the United States is this year’s big Oscar winner, “Out of Africa,” starring Robert Redford and Meryl Streep, and the rumour is that the video version will be released in New Zealand before Christmas.
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Press, 26 August 1986, Page 15
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178Video boom in store? Press, 26 August 1986, Page 15
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