Retail – Media Play News

Best Buy Delivers ‘Better-Than-Expected’ Q1 Results

In an age of e-commerce and Amazon, maintaining near positive year-over-year entertainment retail sales results can be a good thing. That’s Best Buy’s mindset, which May 24 reported 0.8% decline in entertainment segment same-store sales for the first quarter, ended May 5. Never mind the entertainment unit, which includes myriad products such as DVD/Blu-ray Disc … Continue reading “Best Buy Delivers ‘Better-Than-Expected’ Q1 Results”
AT&T Launching Additional OTT Video, Online TV Services

AT&T May 15 announced a trio of video upgrades designed to attract consumers across the economic spectrum and, perhaps, influence a federal judge. Speaking at the JP Morgan Technology, Media and Communications conference in Boston, CEO Randall Stephenson said 2018 priorities remain closing the acquisition of Time Warner, which includes Warner Bros., Turner and HBO, building … Continue reading “AT&T Launching Additional OTT Video, Online TV Services”

Best Buy Delivers ‘Better-Than-Expected’ Q1 Results

In an age of e-commerce and Amazon, maintaining near positive year-over-year entertainment retail sales results can be a good thing. That’s Best Buy’s mindset, which May 24 reported 0.8% decline in entertainment segment same-store sales for the first quarter, ended May 5. Never mind the entertainment unit, which includes myriad products such as DVD/Blu-ray Disc … Continue reading “Best Buy Delivers ‘Better-Than-Expected’ Q1 Results”
Redbox Launches 4K Ultra HD Rentals in Six Test Markets

Making good on a promise it made in January at CES, Redbox on May 22 announced the launch of 4K Ultra HD rentals in six test markets. 4K Ultra HD Blu-ray Discs rent for $2.50 per night, 50 cents higher than the rental rate for regular Blu-ray Discs (DVDs are $1.75). The test is rolling … Continue reading “Redbox Launches 4K Ultra HD Rentals in Six Test Markets”
Comcast Announces Xfinity Retail Store

Comcast May 21 announced the launch of the new interactive Xfinity retail store. The store is “created to provide customers an immersive destination to discover and address service needs for Xfinity products and services,” according to a company release. The first locations of the new store format recently opened in Pueblo, Colo.; Aventura, Fla.; Henrico, … Continue reading “Comcast Announces Xfinity Retail Store”
Barnes & Noble Using Tech to Connect with Young Adults. But to What End?

NEWS ANALYSIS – Earlier this year Barnes & Noble, the nation’s last-standing retail book chain, reported sobering financial results, including near 6% drop in same-store sales due to lower foot traffic. Notable, since the winter holiday shopping period typically drives even non-readers to the bookstore. The decline of the bookstore, unfortunately, mirrors much of the … Continue reading “Barnes & Noble Using Tech to Connect with Young Adults. But to What End?”
Strong Theatricals Boost Consumer Spending in Q1, DEG Says

Consumer spending on home entertainment rose nearly 9% in the first quarter of 2018 to $5.7 billion, according to estimates released May 16 by DEG: The Digital Entertainment Group. The gains were driven by continued growth in subscription streaming as well as a strong theatrical slate that boosted digital sales of movies and slowed the … Continue reading “Strong Theatricals Boost Consumer Spending in Q1, DEG Says”
Hedge Fund Looking for Changes at GameStop

After a costly fiscal write-down and sudden departure of the CEO at GameStop – the nation’s largest video game retailer – one major investor has seen enough. Hedge fund group Tiger Management reportedly send a letter to the GameStop board asking for a strategic review of the company’s business model. The letter comes after shares … Continue reading “Hedge Fund Looking for Changes at GameStop”
Netflix Projected to Reach 201 Million Subs by 2023

Netflix is projected to top 201 million subscribers globally by 2023, according to new data from Digital TV Research. Netflix ended the first quarter (ended March 31) with 125 million subs, with company projections of more than 131 million subs by the end of June. Netflix is anticipated to add 28 million subs in 2018 … Continue reading “Netflix Projected to Reach 201 Million Subs by 2023”
Redbox Snags First Exclusive With Rights to New Nicolas Cage Film

Redbox is now exclusively offering discs of The Humanity Bureau, starring Nicolas Cage and Sarah Lind, for rent at all Redbox kiosks. The arrangement marks Redbox’s first movie exclusive. “We’re always looking for opportunities to add to our content offering based on what we know customers like to watch,” says a Redbox spokesperson. The Humanity … Continue reading “Redbox Snags First Exclusive With Rights to New Nicolas Cage Film”
GameStop CEO Departs After 90 Days on the Job

GameStop May 11 announced the appointment of Daniel DeMatteo as interim CEO following the sudden resignation of CEO Michael Mauler for personal reasons. Mauler, a 16-year veteran at GameStop, had replaced J. Paul Raines, who stepped down for health reasons, and later died due to a reported recurrence of brain cancer. DeMatteo, one of the … Continue reading “GameStop CEO Departs After 90 Days on the Job”
EMA Executive Retires After 24 Years at Trade Group

Carrie Dieterich, SVP, Strategic Initiatives, for the Entertainment Merchants Association (EMA), is retiring after nearly 25 years with the trade group. Her last day is Friday, May 11. Dieterich joined the EMA – at the time, the Video Software Dealers Association (VSDA) – in 1994, shortly after the relocation of its headquarters from New Jersey … Continue reading “EMA Executive Retires After 24 Years at Trade Group”