Remember last week how we brought you news of YouTube’s new rental service involving acclaimed Sundance films? Turns out that not many people cared to take the Google-owned video site up on its $3.99 for 48-hour rentals offer. Industry blog NewTeeVee has released the statistics from the new service’s first weekend in operation, and the results are dismal.
The five films offered by YouTube were rented fewer that 1,500 times total, for an average of about 300 rentals per title. This makes the total rental earnings from all the films less than $6,000 over the weekend, before YouTube’s fees.
Before you get feeling too sorry for YouTube, know that Barclay Capital analyst Doug Anmuth recently reported that YouTube will turn a profit for the first time this year, with more than 55% growth leading to $700 million in revenues.
Why do you think YouTube’s Sundance experiment failed, Insiders? Or should it be considered a failure at all, given that these were not major blockbuster films and new revenue streams can take time to grow? Let us know what you think (and if you were one of the teeming dozens who rented one of these films) in the comments.