Disney reports $1 million in iTunes movie revenue

The company is predicting it will generate $50 million in added revenue during the first year of its movie download venture with Apple.
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Robert Iger, CEO of Walt Disney, said last week that his company sold 125,000 movie downloads worth $1 million in revenue through Apple's iTunes store during the first week downloads were offered.

Iger predicted Disney would generate $50 million in added revenue during the first year of its movie download venture with Apple. The movie service began on Sept. 12 with 75 Disney-owned movies available. No other studios have yet participated.

Speaking at a conference to financial analysts in Los Angeles, Iger said Disney would increase the number of available films on iTunes as it cleared the broadcast rights to move them to the Web.

Iger said Apple CEO Steve Jobs, Disney's largest shareholder and a board member, had become a “sounding board” for Disney's expanding digital content delivery options.

Iger predicted Disney would benefit from further content sales with Apple when the computer company introduced iTV in the first quarter of 2007. The new device will allow consumers to stream movies, TV shows, music, photos and podcasts from the Internet to traditional home TV displays.