By Richard Menta 9/19/06
It looks like the iTunes movie venture has gotten off to a pretty good start. Just a week after Apple unveiled the service Disney chief executive Robert Iger announced at a Goldman Sachs conference that iTunes sold 125, 000 movies. With movies ranging from $10 to $14, that means the endeavor has so far yielded over $1 million in revenue.
"Clearly, customers are saying to us that they want content available in multiple ways," concluded Iger. Iger said that Disney will add more movies to the mix as soon as they can clear certain rights.
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This early success will certainly grab the attention of the other studios who are all cautiously examining ways to sell their films online. There is concern among them to not give Apple too much control as many feel the record industry has. Still, previous efforts to sell films through studio owned entities like MovieLink met with mediocre results. If Apple can sustain the momentum and become the leading conduit for feature films, it will be hard for the other studios to hold back.
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