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The Digital Entertainment Group (DEG) has released figures which show spending on movie discs dropped by 10% in Q1 of this year, despite a rise in Blu-ray spending.
But the group says the problem is mainly due to the low box office of new releases in the quarter, compared to the same time last year.
The combined box office of films released in the first three months of 2011 was 25% down compared to the first three months of 2010, DEG revealed.
But it wasn't all bad news. Blu-ray spending was actually up by 10%, with sales of Blu-ray hardware up 13%, as 30 million homes now have Blu-ray players in the US alone.
And spending on rentals, including streaming and video-on-demand, was up 2.5%. Breaking up the rentals figures, the decline of brick-and-mortar video rental stores was evident with spending down by more than a third, while spending on new online and kiosk based rentals was up by the same amount, suggesting a shift in the way consumers rent movies in well under way.
(Story Source)
But the group says the problem is mainly due to the low box office of new releases in the quarter, compared to the same time last year.
The combined box office of films released in the first three months of 2011 was 25% down compared to the first three months of 2010, DEG revealed.
But it wasn't all bad news. Blu-ray spending was actually up by 10%, with sales of Blu-ray hardware up 13%, as 30 million homes now have Blu-ray players in the US alone.
And spending on rentals, including streaming and video-on-demand, was up 2.5%. Breaking up the rentals figures, the decline of brick-and-mortar video rental stores was evident with spending down by more than a third, while spending on new online and kiosk based rentals was up by the same amount, suggesting a shift in the way consumers rent movies in well under way.
(Story Source)