2006: The Year in Review1 Jan, 2007 By: Thomas K. Arnold
2006 was a year that saw the launch of two new media formats, the growth of direct-to-video and TV DVD, and the resurgence of the DVD market. The top 10 home media news stories of the year are as follows.
The launch of both HD DVD and Blu-ray happens, but with several glitches, including player and software delays. Frustrated analysts and retailers begin to say the formats won't have any impact until 2007.
Digital delivery of movies and TV shows really takes off with several firsts, including hit movie day-and-date releases with DVDs and download-to-burn options.
The DVD business, which had faltered in 2005, comes back to prove the packaged-media business is still strong.
The music business retail slump brings down such venerable chains as Musicland Corp., acquired by Trans World, and Tower Records and Video, sold to liquidators.
Direct-to-video sequels to such theatrical hits as Universal's Bring It On and Paramount's Save the Last Dance grow.
New mini-majors Genius and Magnolia make a splash, adding important product.
Social networking sites such as YouTube and MySpace became video sources and strong marketing tools, even as they came under scrutiny for possible copyright infringement.
Paramount buys DreamWorks and consolidates top talent from both companies.
Benjamin Feingold is out after 12 years as president of Sony Pictures Home Entertainment. David Bishop, former MGM video chief, is tapped as his replacement.
The strong growth — by some estimates 20% — of TV DVD continues to impress.
And now, we present our annual month-by-month recap of the year in home entertainment, as presented in Home Media Magazine.