DVD Sales Drop For the First Time
For the first time since DVD became the standard method for viewing movies in the late 1990s, the format is facing a year-over-year decline in sales, the New York Post reported, citing statistics from analysts at Sanford Bernstein & Co.
According to the report, sales of DVDs had dropped four percent from 2006’s level of $16 billion as of the end of November, and are looking at a likely two-percent drop for the full year. In addition, the entire home video revenue sector, which includes both purchases and rentals of VHS and DVD, was expected to drop to $23 billion, down about a billion from 2006’s total.
The decline was attributed to market saturation, as well as to the rise of on-demand video options, downloading and growing competition from video games.