Word: vhs
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...they've been smeared with a video paintbrush. So the would-be video artist soon finds himself trading in his primitive equipment for improved models (costing up to $1,200) with "flying erase heads," which allow smooth splicing, and one of the new formats (Hi8 or S-VHS) that can be duplicated again and again...
Matsushita is cautious but forward looking. The company has never had Sony's cosmopolitan polish, yet it was Matsushita's subsidiary JVC that developed the original VHS video technology in 1976. Tanii, then the youthful chief of Matsushita's fledgling VCR division, convinced his superiors that consumers would choose VHS over Sony's Betamax if they could also buy compatible videotaped entertainment...
Matsushita (1989 revenues: $44 billion) commands an array of brands, like Panasonic, Pioneer, Technics, Quasar and JVC. The company makes products ranging from stereos to refrigerators to bicycles to semiconductors. It is twice Sony's size, and developed the VHS videocassette format, which prevailed over Sony's Beta in a bloody competitive battle...
...industry is so busy talking inside baseball that it has forgotten the customers. They're thoroughly confused by all this alphabet soup," says James Morris, a computer-science professor at Carnegie Mellon University. In many cases, he says, customers are postponing purchases until one format emerges dominant, the way VHS surpassed Beta as a videocassette standard...
Last week a new high roller appeared on the scene when JVC, the Japanese consumer-electronics company that developed the VHS format for videocassettes, said it will spend more than $100 million to launch Largo Entertainment, a filmmaking company to be run by veteran producer Lawrence Gordon (Die Hard, Field of Dreams). JVC will give Gordon, 53, a former president of 20th Century Fox Films, a free hand in managing the new company while splitting the profits evenly with him. Gordon plans to make three movies in 1990 and five to eight pictures a year thereafter...