Earlier this year, it was revealed that Redbox will discontinue DVD rentals since its parent business, Chicken Soup for the Soul Entertainment, was closing. Last year, Best Buy declared it would no longer sell DVDs.
Other retailers, like as Target, are making cutbacks to lower the quantity of their physical media inventory, and in other instances, they are only available seasonally.
Why are firms abandoning DVDs and Blu-rays? According to our new third-quarter 2024 poll of over 1,000 of our readers, just 30% continue to purchase new Blu-rays and DVDs. That implies that most of our readers are no longer purchasing new DVDs and Blu-rays, causing firms to reconsider their DVD and Blu-ray offerings.
Streaming is increasingly replacing tangible media. While physical media is far from dead, with online rental alternatives such as Gamefly and even local libraries still offering DVDs, the amount of Americans purchasing new physical media is decreasing.
READ MORE: Redbox Officially Shuts Down Roku App, Locking Customers Out Of Movies And TV Shows
DVD sales have steadily declined over the last sixteen years. In 2023, DVD sales fell by 25.32% but home entertainment expenditure increased by 19.29% as more consumers turned to streaming.
The future of new physical media is becoming uncertain, as they become more difficult to get. So, will there still be new movies on DVD in five years? That is an actual question.
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