Report: DVD Will Continues Taking European Markets By Storm12 Dec, 2002 By: Jessica Wolf
DVD sales are poised to take over the bulk of the home entertainment industry in Europe over the next few years, according to a status report on the European video market released by media research company Screen Digest.
The report, presented by Screen Digest senior analyst Helen Davis Jayalath at the Perspectives in European Video (PEVE) conference held earlier this month in Avignon, France, highlighted DVD's potential for growth in Europe, where hardware penetration levels hover well below that of the United States.
Screen Digest predicts that by 2006, sellthrough will make up 77 percent of consumer spending in packaged media, thanks to the sales power of DVD.
The report also predicts that by 2006, home entertainment spending on sales and rental will reach $18.9 billion -- nearly doubling this year's estimated total of $9.9 billion in rental and sellthrough spending across formats.
More than 200 representatives from home entertainment companies in Europe attended PEVE, an annual two-day event.
One attendee, managing director of the Dutch Video Retailers Association Willem van Teeseling, told British trade magazine View he believes there is still a lot to learn about consumer behavior toward DVD in his territory and called for more research and discussion.
“I believe rental has a good future for the next 10 or 15 years,” van Teeseling told View.