DVD sales down 5.5% in ’08

Consumers spend $1.3 billion less than 2007

DVD really started to show its age in 2008.

According to the Digital Entertainment Group, DVD sales slumped 9% last year, bringing overall homevideo spending down 5.5% to $22.4 billion. The DVD decline is greater than recent industry forecasts: Late-year tallies by vid analysts showed sales of the older disc format lagging 5% to 7%.

The news was cheerier on the next-gen front: According to DEG, Blu-ray spending came close to year-end forecasts of $750 million. That reps a threefold increase, and was in line with late-year figures (Daily Variety, Jan. 6).

Rental spending was flat at $7.5 billion for the year.

The 5.5% spending drop was the largest ever tallied by the org, which based its calculations on input from studios. Last year, DEG put annual spending at $23.7 billion, a 3.3% drop. According to the org, homevideo spending has topped $22 billion for six consecutive years.

Org said 9.654 million Blu-ray players have been sold through 2008, with three million of those devices sold during the fourth quarter alone.

Filed Under:

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Digital News from Variety

Loading