'SHREK' Becomes Fastest-Selling Film
Wednesday, November 7th 2001, 12:00 am
By: News On 6
LOS ANGELES (AP) _ ``Shrek'' has become a monster home-video hit.
Consumers spent an estimated $110 million on VHS and DVD versions of the digitally animated fairy-tale since its release Friday, studio officials said.
``Shrek'' has sold more than 7 million units in its three days of release.
The comedy surpassed ``Star Wars: Episode I _ The Phantom Menace'' as the fastest-selling title for retailers this year, a record set just two weeks ago with 2.2 million units sold.
``We had a record-breaking weekend with nearly half of initial shipments sold, with many stores selling completely out of stock,'' said Craig Kornblau, president of Universal Studios Home Video.
The film, produced by animators PDI and DreamWorks SKG, was distributed on home video by Universal.
Stores have sold 2.5 million double-disc ``Shrek'' DVDs, priced around $20 each, and 4.5 million VHS cassettes, priced around $16 each.
``Shrek'' hit stores the same day as ``Monsters, Inc.'' from Disney's Pixar, DreamWorks' animation rival, hit theaters. ``Monsters, Inc.'' had the biggest opening ever for an animated film, grossing $62.5 million in its first three days.
``Shrek'' debuted in May with opening weekend earnings of $42.3 million and has earned a total of about $270 million in domestic theaters, more than any other film this year.