Blockbuster Reports Strong Attach Rates on Consumer Electronics Powered by Roxio CinemaNow
Consumers Embracing BLOCKBUSTER On Demand as Internet-delivered Movies Go Mainstream
Novato, CA and Dallas (Nov. 2, 2009) - Sonic Solutions® (NASDAQ: SNIC) and Blockbuster Inc. (NYSE: BBI, BBI.B), today announced that the recently launched BLOCKBUSTER On Demand® movie service, has exceeded all initial launch expectations and is being rapidly embraced by consumers who are looking for the latest movie releases on their connected TVs and set-top players. Reflecting the growing interest in digital delivered entertainment and the broad appeal of the Blockbuster brand, device reports show BLOCKBUSTER On Demand is driving attach rates over 50% higher than historic figures for Roxio CinemaNow™ powered services and increasing transaction volume beyond expectations.
"Latest device reports are a clear indication that we've found a winning formula in combining our Roxio CinemaNow content delivery platform with one of the most recognizable brands in entertainment," said Dave Habiger, CEO of Sonic Solutions. "The Blockbuster brand clearly means 'new movies here' and is prompting consumers to jump at the chance to see first run hits from the comfort of their living rooms."
The BLOCKBUSTER On Demand service is built on Sonic's Roxio CinemaNow video platform, enabling consumers to find and access their favorite Hollywood hits from a broad range of consumer electronics devices, including availability now on select Samsung HDTVs, Blu-ray Players and Home Theater Systems as well as TiVo DVRs. Providing the same flexibility in compatibility and portability that consumers have come to expect from physical DVDs, the Roxio CinemaNow platform makes it possible for device manufacturers to add internet-delivered video services to their devices quickly and easily with leading brands, such as Blockbuster.
"Our alliances with Samsung and TiVo have allowed us to bring service to millions of homes across the country and we're delighted with how quickly consumers are recognizing the value of the BLOCKBUSTER On Demand movie service," said Jim Keyes, Blockbuster Chairman and CEO. "In a matter of a few weeks, we have already seen adoption for our digital services almost double following these initial device deployments, and we fully anticipate rates to continue to increase as more products are introduced by our device partners in the future. Additionally, by the end of the year we expect to add high definition content to our growing digital library. Through our multi-channel approach, we are the only entertainment provider that offers customers convenient access to media entertainment whenever and however they want it."
With the BLOCKBUSTER On Demand service, consumers have access to the hottest new releases from Blockbuster to rent or purchase -- whether it's the latest comedies such as "Imagine That," action-packed thrillers like "State of Play," hot box office hits such as "Ghosts of Girlfriends Past" or award winners like "The Curious Case of Benjamin Button." BLOCKBUSTER On Demand brings consumers titles as soon as they become available for digital download, typically within a couple of weeks after you can buy or rent them at your local BLOCKBUSTER store, and months or years before you can watch them on a streaming subscription services. Most rentals will range from $2.99 for classic hits to $3.99 for new releases.
About Blockbuster Inc.
Blockbuster Inc. is a leading global provider of rental and retail movie and game entertainment. The Company provides its customers with convenient access to media entertainment anywhere and any way they want it - whether in-store, by-mail, through vending and kiosks or digital download. With a highly recognized brand name and a library of over 125,000 movie and game titles, Blockbuster leverages its multi-channel presence to further build upon its leadership position in the media entertainment industry and to best serve the two million daily global customers and over 50 million annual global customers. The Company may be accessed worldwide at www.blockbuster.com.
About Sonic Solutions
Sonic Solutions® (NASDAQ: SNIC) is powering the digital media ecosystem through its complete range of Hollywood to Home™ applications, services, and technologies. Sonic's Roxio® products enable consumers to easily manage and enjoy personal digital media content and, through Roxio CinemaNow™, access premium Hollywood entertainment on a broad range of connected devices. A wide array of leading technology firms, professionals, and developers rely on Sonic to bring innovative digital media functionality to next-generation devices and platforms. Sonic Solutions is headquartered in Marin County, California.
This release may contain forward looking statements that are based upon current expectations, including the market acceptance and success of the alliance between Blockbuster and Sonic Solutions. Actual results could differ materially from those projected in the forward looking statements as a result of various risks and uncertainties. This press release should be read in conjunction with Blockbuster's and Sonic Solutions' most recent annual reports on Form 10-K, quarterly Forms 10-Q and other reports on file with the Securities and Exchange Commission, which contain a more detailed discussion of each company's business including risks and uncertainties that may affect future results. Neither Blockbuster nor Sonic Solutions undertakes to update any forward looking statements.
Sonic, the Sonic logo, Sonic Solutions, Roxio, Roxio CinemaNow, and Hollywood to Home, are trademarks or registered trademarks owned by Sonic Solutions in the United States and/or other countries. All other company or product names are trademarks of their respective owners and, in some cases, are used by Sonic Solutions under license. Specifications, pricing and delivery schedules are subject to change without notice.