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.
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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.
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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]
As more people get high speed, more rental stores close, gas costs go up, and people now are more afraid of theatres, I’m sure all that will help, but I don’t see any huge jumps until there’s more cost friendly choices
The large increase in SVOD referenced was due to a reclassification. It is not up that much.
I have everything I need at home. A 55″ Samsung Series 6000 LED TV.
And a Samsung BD-P4600 Blu-ray player. And NetFlix online. And Block Buster two out at a time. And get two free DVD’s when I take them back to the store.
I even have a two Old Laser disc players that work great. I pick up Laser Disc on EBay now and then. I have not been to the show in years on end. No need.
Why pay to get in. And get crap pop corn. Water cokes. And out of control people.
I have everything I need at home.
Home is where it is at. Watch what I want. Hot Pop Corn. Real Cokes. And I can grab the little lady all I want…
Life is great! Rock on and be well.
DanO
I was thinking you would have to add murderous psychotic thugs to your list of reasons to stay out of the theater, but I guess that could come under the category of ‘Out of Control People’. I don’t think any us of realized just out of control someone could get.
I have a three-year-old who won’t stay still during a movie. Home theater is really the only option for me, unless I want to deal with babysitters and high theater prices. DVD’s for most movies, Blu-Ray for visually-striking films.