Consumer spending on home entertainment reached a record $25.2 billion last year, rising by 8.4% from the year before.
The Digital Entertainment Group (DEG) reports that 2019’s figures for subscription streaming, digital movie sales and digital movie rentals online rose significantly from their 2018 results.
Subscription video-on-demand (SVOD) services, in particular, are the big success story and now account for $15.9 billion and 63% of the entire home entertainment market. SVOD is overall up by 23.7% from 2018.
Digital movie sales were up 5.1% to nearly $2.6 billion, while digital movie rentals on the likes of iTunes, Amazon and Google Play were up 9%.
Physical media meanwhile is dying fast. Disc sales across Blu-ray, DVD and 4K UHD declined by 18.2% to $3.29 billion. Disc rentals slipped 19.5% to $1.44 billion.