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Blu-ray sales lower due to negative economic conditions |
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Thursday, 20 November 2008 |
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Video chiefs at the major studios are moderating their growth projections for Blu-ray Disc software sales in 2008, which seems lower then predicted.
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| Picture courtesy of Engadget
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Speaking at a press briefing organized by DEG (Digital Entertainment Group), Warner Home Video president Ron Sanders & Sony Pictures Home Entertainment president David Bishop each put their estimates for total Blu-ray software sales in 2008 around $750 million. Sanders was slightly more conservative, predicting $650 million to $800 million in Blu-ray sales, with Bishop plotting $750 million to $850 million. The estimates revise predictions by most studios earlier in the year that Blu-ray title sales would hit $1 billion this year.
Back in June during the 1st Blu-ray forecasts, Paramount Home Entertainment president Kelley Avery did go against the pack and estimate $750 million, now the new average voiced consensus.
Year-to-date industry Blu-ray sales have already exceeded $500 million, Sanders said.
Speaking on a panel moderated by Variety Group president & publisher Neil Stiles, studio presidents emphasized that Blu-ray’s ultimate success is not threatened. But given the environment, in which a dramatic number of jobs and amount of consumer savings have been lost, executives are trying to set realistic expectations about consumer spending during the holidays.
“The table is set for a great future,” 20th Century Fox Home Entertainment president Mike Dunn said. “There might be some logs in the way now and hazy at this second with the economy. But look at the quality (of Blu-ray) & portability and accessibility (of home entertainment in general). Now might be unclear, but the future is set.”
Read more about this at the Videobusiness site.
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