While it’s not exactly new or surprising news, the results from a recent report on consumer entertainment preferences should nonetheless be a downer for Hollywood.
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Industry analyst Michael Pachter has issued a research note concluding that consumers continue to flock to streaming and kiosk movie rentals and away from movie purchases.
According to Pachter’s research, consumer consumption of movies from kiosks, by-mail and streaming increased 8% in April alone, and the trend is expected to continue. Movie purchases, whether physical or electronic, dropped during the survey period.
Pachter believes that both Redbox and Netflix are in a good position to capitalize on the collapse of Blockbuster, with each company absorbing certain former Blockbuster customer types. Said Pachter:
“In our view, Netflix will continue to benefit from increasing consumer adoption of its by-mail and digital streaming options, and Redbox will benefit from strong brand recognition and an increasing number of kiosks . . . Both Netflix and Redbox will continue to benefit from Blockbuster’s demise with Netflix likely to take many of its subscription rentals by mail customers, and Redbox taking its rental kiosk and brick-and-mortar store customers.”
We know that Hollywood is still clinging to the idea that it can recapture the glory days of DVD sales, but that hope looks dimmer and dimmer with each new industry report that comes out.
What will the answer be for Hollywood, which has many issues with both Netflix’s and Redbox’s business models?
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Do the studios still have a trick up their sleeve that will convince customers to dance to their tune?
(via Home Media Magazine)
No, they don’t. They’re going to have to figure something else out.
I can tell you that as a person who bought a lot of DVDs in the 2000s, I have completely shut down DVD purchasing for a few years now and have no intention of going back to that. Fact is, I honestly can’t remember the last time I picked up one of those DVDs from the shelf for viewing (besides the kiddos stuff). Any time I have a spare second to watch a movie, I find myself flipping through Netflix instant for something I haven’t seen before. I plan on trimming the DVD collection down considerably and eventually ripping some favorites to digital format for HTPC ease-of-access, then throwing the hard copies in a box for storage.
Seems we’re in a transition phase now between the DVD days of old and the future, which is all-digital/streaming. I think the kiosk model is safe for now ONLY because not everyone has high speed internet for streaming, but that will eventually change.
They can’t be naive enough to think those “glory days” will ever be back, they just can’t figure out how to get the same profit margin from the digital versions. Same problem the music industry had with CDs when ITunes came along.
‘I think the kiosk model is safe for now ONLY because not everyone has high speed internet for streaming, but that will eventually change.’
True for many but you have to consider pricing. Kiosks will generate a reasonable amount of business as long as 1) they rent movies for 1/4 to 1/2 the price of VOD/internet delivered video and 2) consumers don’t become infatuated with some new digital platform such as UltraViolet video locker.
The leap from DVD/bluray to VOD/internet delivered video has not captivated consumers nearly as much as the leap from tape to DVD.
@FLoN
Digital Entertainment Content Ecosystem’s UltraViolet [digital movie locker] is a can of worms in the making. The technical specification haven’t yet been ratified and already several key players [Apple and Disney] are both against the format.
For those unfamiliar with the premise, it is conceptually very simple… Licensees receive a binary token, allowing perpetual use on any device provided an internet connection exists. This would apply to any physical or virtual source of the intellectual property.
One can easily see the limitations [no backward compatibility among others] and how enticing the protection scheme would be to motivate circumvention–if adopted. ;)
I’m in agreement generally. It won’t break new ground with consumers most likely. I think lower pricing on VOD/internet delivered video/digital lockers would likely challenge the high ground netflix and redbox occupy currently. Lowering prices is a tough one for studios. They usually think in terms of how to raise prices not lower them.
I know for me, personally, I gave up on purchasing dvds around 2008. Up til then, when dvds of blockbuster and smaller faire movies came out, they came out on two disc editions.
They usually had some good extra features, and that always drew me in. Since then, dvds released now are “future proofed”; this just means they sell you the same dvd bundled with the blu ray counterpart. Very little extras are produced, and while the movie still is supposed to be the big draw, this bundling of discs in standard, bluray, and 3D just doesn’t make me want to buy.
Standard versions come with little or no extras at all, bluray has them but some are online, and until I don’t have to wear glasses the whole 3D home entertainment thing isn’t for me.
interesting post, but on this side there is some good posts.
Any news on when Redbox streaming service will up & running? How much will it cost, will you have to buy a box for just Redbox streaming service?
The studios have to decrease the cost of DVD’s to $7.99, or something close to that. Even drop all the extras that they put on like gag reels, making of, cast filmogrsphy’s, I never watch that stuff, I just want the movie. If I want more info on a movie, I go to IMBD, and it’s all there. If the keep charging $19.99 for something that costs them $2.00, then they will fail, we’re too smart for that anymore, too many other options.