Based on new DEG data, VIP+ projects that 2024 will be the first year physical discs will be a sub-billion-dollar business.
How to interpret DEG’s 2024 home entertainment calculationsAnalysis of withdrawal of Netflix and retail giants like Best Buy from DVD marketplace
For instance, if DEG hadn’t made a significant change in 2011 and continued to track only the core home video business itself — which includes DVD sales and rentals, VOD services such as Xfinity and Electronic Sell-Thru platforms as in iTunes — that number would have plummeted from $17 billion to $6 billion in the latest report issued earlier this month.
If you subtract that number from Physical Product , that leaves 2023 physical DVD sales at around $1.36 billion — a 16% decline from 2022.Truth be told, it could have very well crossed that benchmark this year had it not been for the successful Blu-ray release of “ For its part, DEG acknowledges the cloud the 2024 box office will cast over the DVD marketplace in this year’s report, stating, “Announced delays in 2024 theatrical releases due to the Hollywood strikes may have an adverse impact in the next few quarters.”
But good times don’t last forever. In 2007, Netflix, then a modestly successful DVD rental service founded in 1997, launched its digital streaming platform. And suddenly, the whole notion of consumers owning or renting discs wasof $1 billion-plus declines, draining the DVD market to just $6.85 billion by 2017. In 2023, DVD purchases have shrunk by around 92% since its 2006 peak.
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