Wiktionary
a. Of a motion picture, originally released in a home video format (historically VHS) without being released to cinemas or broadcast on television. Variation: direct-to-DVD.
Wikipedia
Direct-to-video or straight-to-video (also known as direct-to-VHS, direct-to-DVD, direct-to-Blu-ray, direct-to-digital, etc.) refers to the release of a film to the public immediately on home video formats rather than a theatrical release or television broadcast. Because inferior sequels or prequels of larger-budget films may be released direct to video, references to direct-to-video releases are often pejorative. Direct-to-video release has also become profitable for independent filmmakers and smaller companies.
Usage examples of "direct-to-video".
In the past decade, my employers have included three carnivals, four roadside peep shows, two direct-to-video horror movie producers, and an artsy off-Broadway troupe bent on reviving Le Grand Guignol.
But the Marlowe/Verhoeven approach is to slaughter every character in the cast, in the most gruesome manner possible, as if they were making some direct-to-video slasher movie.