Video Island and LOVEFiLM merge
It seems like not so long ago (September 2003) when we launched Video Island.
In less than three years, the UK (and now Nordic) DVD rental business has gone through real change.
Bringing Video Island and Lovefilm together creates a combined group which will have more than 400,000 subscribers, rent over 2m DVDs a month and did over £25m in revenue in 2005. This is excellent scale to take on the challenge of creating a European home entertainment business and defend against the potential incursions of Netflix, Blockbuster and Amazon.
All the team at Video Island have done an excellent job and the investors at Index, Benchmark and Cazenove have been incredibly supportive in growing the business - looking forward to working with the Lovefilm team and investors.
Lots of great coverage of the deal including BBC, Reuters, Telegraph and Time Out.