DVD Entertainment Group Report: DVD Sales Continue to Flourish10 Apr, 2001 By: Hive News
While many industries are suffering from a downturn in the economy, DVD hardware and software sales continue to grow at accelerated paces.
In the first quarter 2001, an additional 2.4 million DVD-Video players were shipped to retail, bringing the total units shipped in since the format's launch to nearly 16.5 million according to the Consumer Electronics Association (CEA). If growth continues at this pace, 17 million DVD-Video players are anticipated to ship to retailers this year.
According to figures compiled by the DVD Entertainment Group (DEG) based on retail and manufacturer data, hardware players sold through to U.S. consumers have reached more than 16 million units.
"Now firmly established as a mass-market product, DVD continues to be one of consumers' favorite new electronics products as evidenced by the strong numbers in a comparatively soft quarter," said Emiel N. Petrone, chairman, DVD Entertainment Group and executive v.p., Philips Entertainment Group, Worldwide.
There are now more than 125 DVD player models marketed under 50 different consumer electronics brands. DVD players are available at practically all consumer electronics retailers and have become the focal point of the home theater category. There is also an expanding variety of DVD players available, including portables, DVD-Video/Audio combination players and automobile.
According to figures compiled by Ernst & Young on behalf of the DVD Entertainment Group, nearly 70 million DVD movies and music video titles shipped in the first three months of 2001, more than double the number shipped in the same quarter last year.
Since the inception of the format in 1997, software shipments have reached more than 380 million units, according to the DVD Entertainment Group.
"Now entering its fifth year, DVD-Video has become its own art form, with studios and record labels pushing the limits of the format," said Steve Nickerson, president, DVD Entertainment Group and v.p. sales, Warner Home Video. "As we move further into the mass market, we are seeing consumers enthusiastically embrace not only the format's advanced picture and sound quality, but the added features that make DVD unique and collectible."
In response to consumer excitement, retailers are adding more shelf space for DVD product. There are currently more than 9,000 movies and music video titles available from all of the major movie studios and music labels.
The DVD Entertainment Group is a Los Angeles-based, industry-funded, nonprofit corporation that exists expressly 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.