Blu-ray proves to be recession-proof
With the recession in full swing many analysts predicted that the Blu-ray format would take a huge hit. However, the latest numbers seem to indicate otherwise. The theory that the entertainment industry is immune to the recession might be holding true for the Blu-ray format, at least judging from the substantial growth just this year.
Near the beginning of the year, analysts were predicting that Blu-ray growth would face stagnation due to the state of the economy. According to Tom’s guide, this doesn’t seem like the case for the Blu-ray format. The relatively new format still has a long way to go before it can take over DVDs, but sales have increased astronomically compared to last year.
According to the Digital Entertainment Group, Blu-ray sales increased by a whopping 91 percent to $407 million during the first half of 2009. Interestingly, overall consumer spending for media, including DVDs was down by 3.9 percent this year, indicating a strong shift towards Blu-ray. Also, nearly 20 million Blu-ray movies have been shipped during the second quarter of the year, which is an increase of 57 percent year over year.
Hardware sales for Blu-ray players have increased by 25 percent year over year, indicating that the adoption rate is steadily continuing to climb. With DVD sales dipping and Blu-ray sales increasing, the eventual outcome seems inevitable. Many consumers have started to look at Blu-ray as the next “upgrade” or the next cool gadget to add to their home theater setup. Blu-ray players may be the hot gadget this coming holiday season with a great deal of blockbuster titles lining up for release.
Despite the recession, there doesn’t seem to be signs of slowing down from Hollywood with big budget movies like Transformers: Revenge of the Fallen and Harry Potter and the Half-Blood Prince blowing away box office numbers. It seems inevitable that as long as blockbuster movies continue to do well in the theaters, Blu-ray versions of the movies should equally sell well later on.
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July 19th, 2009
I suspect that just like with gaming it’s more a delayed effect that’s slow in coming, not that it’s not coming at all.
July 19th, 2009
I don’t know anyone who has bought or is planning to buy Blu-ray, DVD’s work fine and the upscale players look great.
Most people have other concerns like paying bills and making the mortgage payments rather than wasting their money on a “new toy”.