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Thursday, 02 October 2008 |
By Martin Brinkmann
 2007 was a time of flux for the movie industry. Consumers were besieged by entertainment options and trying to pick a direction, while the movie industry itself was tumbled around by format wars, a Writer's Guild strike (with more than 12,000 writers joining in), and a soft economy.
Despite the tumult, the industry performed well and the disruption resolved in the first quarter of 2008 as the strike and the format war found resolution with Blu-Ray emerging victorious. Though the economy continues to slump, it seems to actually be having a positive impact on movie expenditures, as they win out over more expensive forms of entertainment.
795,000 U.S. households had high-definition video set-top consoles in 2007; HDV availability jumps to 4,406,004 when console and PC HDV-ROM is factored in. High-def homes purchased almost nine million discs. These numbers are pretty incredible, considering that it is was just one year prior that DVD players overtook VCRs in popularity.
Home videos accounted for almost $16 billion in sales and over $8 billion in rentals. Prerecorded video products were the 6th most-purchased packaged goods sold |
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Last Updated ( Thursday, 02 October 2008 )
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