Home Video on the Decline
As reported in the Los Angeles Times, the home video market for sales and rentals of movies continues to decline as more consumers turn to Netflix and other services for movies. Revenue from sales and rentals of movies and television shows totaled $12 billion in 2016, down seven percent from the prior year, according to data released Friday by trade organization Digital Entertainment Group. At the same time, subscription streaming services continued rapid growth, increasing nearly 23 percent to $6.23 billion in consumer spending. For the first quarter of 2017, Electronic Sell Through increased 13 percent. Consumer spending on home-video entertainment grew two percent from the same period in 2016.
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