DVD sales weakening in response to economic crisis

Hollywood’s cash cow, DVD sales are faltering in response to consumer concerns about the economic crisis.   Its a common wisdom that economic hard times boost use of libraries, clearly as consumers choose to purchase less DVDs for their home collections, they’ll be walking through our doors looking for something to watch at home.

From the New York Times

DVDs, Hollywood’s Profit Source, Are Sagging

…  So far, total DVD sales are down by about 4 percent for the year, with most of that weakness coming in October, according to data compiled by Warner Brothers, the largest distributor of DVDs. The independent tracking service Nielsen VideoScan paints a bleaker picture, reporting a 9 percent drop in overall DVD sales during the third quarter alone and a 22 percent decline in sales of higher-priced new titles, although its data does not include results at Wal-Mart.

Most troubling, industrywide sales of next-generation Blu-ray discs — promoted as a high-definition technology that will restore growth to the medium — are growing but will miss sales projections for the year by 25 percent or more, according to Warner.

posting by Jim