Digital communications technologies disrupt information industries. That’s Craigslist siphoning off newspaper classified ads. It’s Hulu helping 20 somethings cut the cord. It’s Pandora (or Spotify, if you wish) facilitating micro-radio stations.
One of the largest information industries in the country, higher ed, has had its hands full with state budget cuts; digital tech has not decimated the bottom line. (Yet.)
The headlines from two days ago trumpeted Wal-Mart’s success in buying Vudu but the real story is that Apple holds two-thirds of the online movie market, based on revenue. The dollar amounts are, umm, less than stellar, however.
According to IHS Screen Digest Media Research (press release), Apple’s iTunes store had captured 65.8 percent of consumer spending for electronic movie sales and Internet video on demand (iVOD) during the first half of 2011.
Apple’s iTunes will now be offering new movie releases on the same day as their DVD release. The PR statement notes that “new releases [are] priced at $14.99 and most catalog titles at $9.99.” Participating studios: 20th Century Fox, The Walt Disney Studios, Warner Bros., Paramount Pictures, Universal Studios Home Entertainment, Sony Pictures Entertainment, Lionsgate, Image Entertainment and First Look Studios. (tip via Twitter; disclaimer: I own Apple stock.)