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NEWS6 May 2016

UK online video spend to overtake DVD spend for first time

Media News Trends UK

UK — New research has revealed that this year Britons will spend more on video streaming subscriptions and film/ TV downloads than on buying and renting DVDs.

According to the research, from research and consulting firm Strategy Analytics, consumers are predicted to spend £1.31bn on streaming and downloading in 2016 ( 24% more than 2015 ), but will spend only £956m on DVDs (a 16.3% decline, dipping below the £1bn mark for the first time since 1994 ). 

This means that online formats will account for 58% of home video spend, while DVDs will account for 42%. 

“Five years ago, DVDs represented 86% of consumer spend on home video, in five years it will be less than 14%, with DVD/Blu-ray rental virtually extinct,” said Michael Goodman, Strategy Analytics’ digital media director.

“As online provides increasing ways to access films and box-sets, physical simply can’t compete. Although many people will always prefer a physical disc, retailers will have to decide whether it’s even viable to offer that format in five years’ time. Many won’t and with less high street players around, it will be online, ironically, that keeps DVDs on life support via e-commerce.”

Full findings can be accessed here

@RESEARCH LIVE

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