BTIG Research analyst Richard Greenfield expects that purchases of physical and digital content will account for 49 percent of consumer spending this year, which would represent a drop of two percent from 2012 and represent a tipping point. Rental spending hasn’t outpaced purchases since the early 2000s when consumers began to amass large DVD collections.
Michael Lynton, CEO of Sony Corp. of America and Sony Pictures Entertainment, concurs with Greenfield’s assessment that owning content is quickly becoming passe for consumers. Said Lynton:
“It’s more about access to content . . . People are breaking the emotional hold of ‘I have to have own it if I consume it.’ Once it shifts, a lot changes and it is happening pretty quickly.”
Does your mindset lean towards renting over owning, Insiders? If so, is it a recent change?
[via Home Media Magazine]