Put a fork in it, the DVD movie format is dead. Try a search on Blockbuster for a local store and see how far away the nearest brick and mortar is located. A couple of years ago, they were seemingly on every other corner. More and more households are streaming their television content, either through their cable TV provider or third-party services such as Hulu, Netflix or Amazon. DVD rental stores are closing, being replaced by rental kiosks such as Redbox, doling-out DVD rentals in dusty corners of convenience stores or lobbies of grocery markets next to the gumball machines and free automotive circulars.
According to the IHS Screen Digest, 34 billion movies will be watched online by Americans in 2012. This equates to over 1billion movies per year than are consumed on DVD and Blu-ray combined!
Netflix’s Failed Attempt To Abort Their DVD Baby
We all remember the 2011 debacle of Netflix trying to spin-off their DVD brand to Qwikster, a company they created and would eventually kill when DVDs died. It didn’t go over well and Reed Hastings issued an apology to the Netflix subscribers.
Many have the opinion that Qwikster was created so the image of Netflix would not be tarnished when DVDs were no longer offered by the site. Obviously, Reed Hastings understands the streaming video trend will eventually overtake DVD sales and rentals.
Walmart and VuDu
What does it tell you when one of the largest (if not the largest) retailer of DVD sales implements a streaming video service on their website? In 2011, Walmart launched their video on-demand service using Vudu, allowing their users to rent movies rather than buy them. Walmart must have noticed a drastic decline in DVD sales to begin a video on-demand service of their own.
Popular Streaming Video Stats
Below are a stats from Netflix and Hulu showing their growing number of streaming video subscribers.
So What Does All Of This Mean
Nothing, really. The real losers in this deal are the consumers who will sacrifice quality and content for convenience. You’ll likely never see the great commentary or a movie’s special features on a streaming video as you currently do with the purchase of a DVD or BluRay movie. Audiophiles and videophiles–those that have invested hundreds, if not thousands on their home theater systems–will shed a tear when physical media goes away, as they truly know streaming video will never be able to compete with their thirst for superior high-end video content.
Do you agree that DVD media is dead? Let us know how your home movie watching has changed over the past few years. Do you find yourself cancelling DVD services and using more online streaming companies like Hulu, Netflix or Amazon?