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Wednesday, February 25, 2009

Sinking DVD Sales Part 2

As a follow up to my previous post about sinking DVD Sales, new information that shows just how severe the decline is has now come to light.

The Wrap states that DVD sales at Warner Pictures were down by a whopping 24% last year, and Fox by 14%. Even Disney with its built-in kid audience was down by 33%!!!

While the sales figures are no doubt causing hand-wringing in boardrooms all over Hollywood, it appears that the format isn't completely doomed. The rental outfit Netflix reported a 45% increase in profits last year based on 26% more subscribers.

So what does all of the above really mean in the grand scheme of entertainment? Perhaps it's the economy or perhaps it's the changing face of technology, but consumers don't want to own DVDs anymore. Sure they want to watch the movie, but it's better to pay the $5 (or less) rental fee than to buy an item that you might watch only once.

As far as Blu-Ray sales, yes, the format is gradually on the rise but won't be the saviour that the studios hope it will be. It only offers better quality, but any new format that replaces an older one offers convenience too, and that's not something you'll find with BD.

With Internet speeds getting ever cheaper and faster and on-demand cable channels finding more viewers, consumers are saying they could care less about the DVD extras that used to be packed onto every disc, so there's no real need to own it. Just let me watch the movie once and then move on.

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