The Eminent Demise of DVDs
by John Francis
Posted on June 5, 2017 in Entertainment (ZootScoop.com)
“OK, class, show of hands. When did you last rent a DVD movie?”
No hands.
“OK, when did you last buy a DVD movie?”
Still no hands.
“Uh, what’s a DVD? Are you kidding me?”
That scenario may play out sooner than you think, but don’t toss your DVD player and DVD copies of “Titanic” and “Toy Story” into the garage sale box just yet.
While it’s true that DVD sales and rentals have declined in the past few years, it’s not as precipitous a drop as some observers have predicted. DVD sales dropped by 28% in 2015 with $12.2 billion and is expected to drop to $8.7 billion in 2018. By next year, streaming and digital downloads will be the biggest moneymakers in the film industry. In fact, according to Price Waterhouse Cooper, by 2018, digital video will make more profit than movies’ theatrical box office.
Maybe we should be talking about the demise of movie theaters? Well, that’s a discussion for another article, which we’ve covered in Z’Scoop earlier this year. But even Price Waterhouse doesn’t think movie theaters will become obsolete, as new innovations, trends and viewing habits keep it viable.
So, DVD sales are declining and DVD rentals are making a slow slide, again, not as drastically as you would imagine (Redbox has 52% of the rental market with more than 1 billion movies and games rented each year, Netflix DVD rentals owns most of the other share), so despite the competition, DVDs are doing relatively well and here’s why...
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