As subscription services soar, the amount people are spending on DVDs, Blu-rays and Ultra HDs has nearly halved.
A new report from the Motion Picture Association of America (MPAA) has laid bare the decline in physical media sales over the past five years.
It notes, as reported by The Digital Bits, that the value of the market has declined from $25.2bn back in 2014, through to $13.1bn in 2018. DVD remains the most popular physical disc format, accounting for around 60% of worldwide disc sales. Whilst the more recent 4K Ultra HD format has made some headway too, that accounts for just over 5% of the current market.
And yet, countering this, the actual amount people are spending on home entertainment has been creeping upwards. In fact, the MPAA reports a 16% year on year increase between 2017 and 2018. The vast bulk of that spend, though, has gone towards subscription services, primarily streaming operations such as Netflix. That market is expected to grow further, with Disney+ and Apple TV+ amongst the new subscription services being lined up.
It’s not all doom and gloom in the world of physical media. It still accounts for an awful lot of annual revenue. But still, more and more of us are electing to get our films and TV shows via streaming services of one form or another. The numbers are very much reflecting that.