Bluray Format Gaining Market Share - Rapidly
The Entertainment Merchant Association has released its 2008 Annual Report on the Home Entertainment Industry. The report is ‘a snapshot of DVD and video game software and hardware trends, consumer spending, product diversity, the retail marketplace and new and emerging technologies’.
Of particular and relevance to the Blu-ray market is that:
- Game software sales increased 34% in 2007, to a total of $8.6 billion.
- Home video generated $15.9 billion in sales and $8.2 billion in rentals in 2007.
- Nearly 9 million high-definition discs were sold in 2007, for which consumers spent more than $260 million.
- It is estimated that, in 2012, sales of Blu-ray Discs will exceed those of standard DVDs and will generate sales of $9.5 billion.
- In 2007 video game hardware sales totalled $7.04 billion, which represented a 54 percent increase over 2006.
- Home video spending is projected to increase to $25.6 billion in 2012.
- Traditional rental stores, dominated by Blockbuster, accounted for 73% of the rental business in 2007. Online subscription rental (such as Netflix and Blockbuster’s Total Access) were 25% of the market. Kiosk rental doubled its market share to 2%.
- There were approximately 10,000 DVD rental kiosks operational in the U.S. at the end of 2007.
Reading through the summary as above, and considering that Sony’s Playstation3 (PS3) uses Blu-ray technology, things certainly look very bright for the high definition digital Blu-ray format (especially now that HD-DVD is no longer a competitor).
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