Believe it or not Home video sales grew 2.5% in the first quarter of 2012. BluRay sales were up and digital sales of Video On Demand (VOD) rouse due to growth in the digital cable market.
Home video sales generated $4.5 Billion dollars in sales, according to Digitail Entertainment Group. In fact video sales surpassed rentals by a $2.2 Billion to $1.7 billion clip.
Despite Netflix’s recently bad publicity, they were heavily responsible for for the 2.5% growth. Netflix sales surged 545% and brought in a cool $549 million. Though disc by mail sales fell 48% to $348 million.
Redbox pulled their weight as well, earning $523 million and growing %30 in the rental category. The added Redbox’s in rural area’s seem to pay deviance. While Video on Demand through digital cable grew 7% to collect $505 million in rental fees.
Blockbuster wasn’t so lucky. Their in store rentals declined 39%, bringing in only $305 million dollars. A far cry from their peek in the mid 90′s. How the mighty have fallen.
The biggest jump came in BluRay TV show sales which grew %54 in the first quarter. Boasted by the popularity of the Playstation 3, there are now 40.8 million BluRay devices in U.S. homes. Making HD disc obsolete.
This all bods well for studios who now see positive profit growth beyond the Box Office success. If a film fails to earn back the principle at the box office, strong BluRay and VOD sales could end up bringing home the bacon. Saving share holders money and grief.
The future is now. iTunes and smart phones have made all this possible. When you own a 70 inch flat screen with surround sound, why not wait a month for a highly anticipated film to hit VOD. You can watch it at home for 4.99, avoid the traffic and spend quality time with your family.
It’s a fine practice, but to me, there is nothing like going to the tether and smelling the popcorn and laughing out load with a full theater. But hey, not everyone is 29 years old and without a family.
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