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Disney Scores Big On iTunesBy Lexi Feinberg: 2006-09-23 00:00:00
And so the downloading craze continues. Less than a week ago, Disney put up a number of films on iTunes for internet-savvy folks to download. FilmStew reports that the studio has sold 125,000 films (!) through the site, already earning a million dollars. Needless to say, their experiment is a glowing success, and CEO Bob Iger predicts they will easily make 50 million in their first year alone. He probably has that much in the cushions of his sofa though. Apple’s Steve Jobs is a top shareholder at Disney, which may explain why Disney is the only film studio currently selling movies on iTunes. With such a hefty pay-off, the rest of the bunch should be flocking down the same path in no time. At a media conference in New York on Tuesday, Iger noted, “It’s just a beginning…but it makes a difference.” He also stressed that iTunes will not be their exclusive download venue (sorry guys). As for me, I’m going to stick to seeing movies on the big screen, or the not-so-big screen in my living room. Downloading movies joins MySpace on the growing list of head-scratching frenzies I refuse to buy into.
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