Osbournes DVD Sells Miramax on Value of Bid

[Brett Ferino]

Osbournes DVD Sells Miramax on Value of Bid

2003-03-13 08:10:56 GMT (Reuters)
By Scott Hettrick

HOLLYWOOD (Variety) - Another risky investment is paying off for Harvey Weinstein.

Miramax, which placed a winning rights bid of a headline-generating $7 million, estimates consumers have already purchased more than 500,000 copies of "The Osbournes" DVD set, featuring the first season of episodes from the MTV series.

The average price of the set is about $24.99.

About 80 percent of the roughly $12.5 million spent on those copies goes to Miramax and distributor Buena Vista, with the Osbournes taking their piece out of that portion, according to estimates by Daily Variety sister publication Video Business.

Although nowhere near the record 1.6 million units sold of the first season of "The Simpsons" on DVD, the rapid pace of sales could easily move "The Osbournes" into the elite echelon of TV series that have topped 1 million copies in sales.

Others include "Band of Brothers" (1.4 million), the first season of "The Sopranos" and "Friends" (1.3 million each), "The Simpsons"' season two (1.25 million) and "Sex and the City" (1.1 million).

Despite the decline in ratings for the TV series of "The Osbournes," which is preparing for its last season, consumer spending on the DVD of the first season alone could rise to more than $50 million, in line with spending on "The Simpsons" and "Friends."

With prices ranging from $75 to $150 for series such as "The Sopranos" and "Band of Brothers," revenue from U.S. sales alone can run as high as $100 million to $200 million