ENCINO, Calif. - Americans spent more money in 2001 watching rented videos and DVDs at home than going to the theaters to see movies, according to a trade group. <br>
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Rental revenues grew 2.1 percent to $8.42 billion, compared with $8.38 billion in box office revenue, the Video Software Dealers Association said Monday. <br>
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Driving the increase is the popularity of the DVD format. The number of DVD rentals grew 164 percent over 2000, the association reported. Revenue from VHS rentals were $7.02 billion, while revenues from DVD rentals were $1.40 billion in 2001. <br>
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In the fourth quarter, revenue from DVD rentals grew 32 percent over third quarter revenues, the association said. <br>
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``Video rental remains a strong, vibrant and growing industry,'' Bo Andersen, president of the VSDA, said. <br>
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