The Holiday Market Snapshot is a special study of consumer behavior during the fourth quarter Holiday season. Our clients use this report as a key competitive benchmark of fourth quarter performance. The 15 year history of this report covering the same core variables is key to this application.

The Holiday Market Snapshot is also a great platform to study important aspects of consumer purchase behavior because of its large sample size and extraordinary analytical input. In prior years, we have pinpointed the growth of TV programming in the home video market -- the earliest signs of the emergence of the TVonDVD business. We introduced the concept of "previously viewed" and have expanded that to differentiate between "fresh" and "previously viewed" product, whether new release or catalog, DVD or VHS.

This year, we are building on these pioneering insights to study the TVonDVD market in much greater detail. We will be building a model of the Previously Viewed Consumer. And we will analyze how Video-on-Demand consumers and Personal-Video-Recorder consumers differ from the typical purchase market buyer in quantity, title and store preferences. We will post more information on the availability of these reports in February of 2005.