DVD sales drop as consumers use broadband for movies

It has been reported that Hollywood bosses are in panic mode after it emerged that DVD sales have been plummeting as more and more get online for their movie fix.

Over the years the DVD industry has been a healthy one with many movie fans spending money by purchasing their favourite movies on DVD so that they can enjoy them over and over again whenever they like. However, Hollywood bosses are said to have gone into panic mode after it emerged that DVD sales have plunged as more and more consumers use their broadband and internet to get access to their favourite movies.

In the United States alone the sale of new DVDs fell by one fifth in the first three months of the year, and this is a trend that is likely to be followed in the UK and other major countries around the world. Officials believe that consumer habits have changed to a degree where the younger generation is now being brought up to download and stream movies, which means that the DVD could become history.

BTIG analyst Richard Greenfield, stated: “Why buy movies any more? We believe consumers simply are not interested in owning content any more. Content is so easy to access on-demand, why buy it, especially given the dramatic price differential between buying and renting?”

The British Video Association said that it was seeing similar trends for DVD sales in the UK. An official said: “We are entering a period of change. What we are seeing is growth in consumer choice, in terms of how people get their movies – with services like Lovefilm and Blinkbox coming through – but how that translates into revenue will depend on what agreements each distributor strikes.”

Have you given up on DVD in favour of going online?

Source – Guardian