In recent years, DVD Premieres have become a substantial source of revenue for movie studios. DVDPs have collectively grossed over $3 billion over the last few years, and have matured enough that DVDP divisions of studios now option their own movies. Studios realized that DVDP movies can be shot on a smaller budget, thus allowing studios larger profits with the combined revenues of home video sales and rentals, in addition to licensing movies for television and for distribution abroad (where some DVDP movies do see theatrical releases).