DEG Says 120 million DVDs Shipped In Q130 Apr, 2002 By: Holly J. Wagner
More than 120 million DVD movies and music videos shipped in the first three months of 2002, a 74 percent increase over the same quarter last year, according to a new report from Ernst & Young on behalf of the DVD Entertainment Group (DEG).
Since the inception of the format in 1997, software shipments have reached more than 790 million units, the DEG reported.
“We continue to see families and younger audiences embrace DVD as their home entertainment medium of choice,” said Bob Chapek, president of DEG and Buena Vista Home Entertainment. “The popularity of video game systems compatible with DVD has also allowed for DVD playback capability inside of kids' rooms leading to even more software growth potential.”
A recent report from In-Stat dislosed that 62 percent of PlayStation 2 owners use their game consoles to play DVDs, supporting Chapek's belief.
About 100 new DVD titles are released each week and retailers continue to devote more shelf space to the format,
With more than 125 DVD player models marketed under 50 different consumer electronics brands, hardware sales have been brisk and show no signs of slowing, especially since the variety of configurations continues to expand, DEG reported.
“DVD is the dominant home entertainment platform and is growing in popularity as its depth of product expands with cars, portables and recordable players,” said Emiel N. Petrone, DEG chairman and EVP, Philips Entertainment Group Worldwide. “The trends for home theater-in-a-box systems and TV/DVD combination systems are further proof that DVD has made its mark as the centerpiece of home entertainment.”
In the first quarter 2002, 3.6 million DVD players shipped to retail, a 29 percent gain over the same period last year, according to DEG. Total units shipped since the format's launch has exceeded 35 million. The DEG estimates that 20 million DVD players will ship to retail this year.
Based on retail and manufacturer data, DEG estimates the installed base is approximately 27.4 million homes (adjusting for homes owning two or more DVD players).
The DVD Entertainment Group is a Los Angeles-based, industry-funded nonprofit corporation formed to promote consumer awareness of the benefits of DVD-Video and DVD-Audio, and to provide updated information to the media and the retail trade about DVD players and titles.