After years of slow decline and and much hand-wringing from Hollywood honchos, the home entertainment business may actually be on the upswing. This according to a new report from the Digital Entertainment Group (DEG), which claims that the U.S. home entertainment industry has grown 1.4 percent in the first six months of the year compared to the same period in 2011.
Now, 1.4 percent may not exactly be blistering growth, but it’s great news for an industry grasping for any good news that it can find. It must be noted also that the DEG is backed by the studios.
The largest growth sector by far in the home entertainment business is digital, specifically subscription video-on-demand, which has grown its revenue 430 percent so far this year. Most of that growth can be traced to Netflix, of course, which despite recent troubles still controls a majority of the SVOD side of the industry.
The Redbox-led kiosk business is also growing at a steady pace, increasing its revenue by 23 percent according to the DEG report.
Is this report a blip, or are things really starting to look (slightly) up for the struggling home entertainment industry? Hit the comments and tell us what you think.
[via Paid Content]