I don't necessarily believe that this is the case, but on the other hand I realize that I can't prove otherwise.
I'll say though, that the thought did occur to me after reading up on how well the PSP is doing in Europe. I did wonder, "did the whole emulation of 8/16-bit titles and hacking of the hardware factor into it's sales?". Because I think we can all agree, the software line up is quite bland. Plus, I don't know if PSP movies are multi-region...if they are it could be a reason. If not, this means a limited selection of movies, and they probably aren't getting it for the movies.