CES 2008: DVD Sales Down For The First Time January 08, 2008
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DVD rentals and sales in the US have fallen for the first time since the format appeared in 1997, prompting doom and gloom predictions that it’s all downhill for DVD from now on. In reality, it’s a blip and DVDs will be king of the hill for a few years yet.
Sales and rental revenue came to $23.4bn in 2007, down 3% on 2006, according to figures from the Digital Entertainment Group. The current economic crisis in the US was cited for the much of the dip. Interestingly, people spent just as much renting DVDs in 2007 as in 2006 at around $7.5bn but sales of DVDs were down. Consumers shelled out around $16bn in 2007 – down $600m on 2006. Movie download services are expected to more than double in value to $1.6bn this year.
Ironically, high-definition (HD) movie sales – Blu-ray and HD DVD combined – barely registered at $300m showing that, despite the hype, the big HD war is still more of a playground squabble in the eyes of most consumers.
However, now that Warner has dumped HD DVD for Blu-ray and rumours abound that Paramount will do the same soon, Blu-ray could be crowned the HD champ this year.
This would end the confusion that has prevented many customers from hopping aboard the HD wagon and really boost HD movie sales.-Martin Lynch
Editor and Contributor | Martin Lynch
Contributor | Tamlin Magee
Comments
surely though the digital entertainment group relise tht sales will fall because of blu ray, hd, just like im sure VHS did when dvd first appeared