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SALES OF VIDEOS DROP 19 PERCENT

May 3, 2011 by · Leave a Comment 

Sales of DVDs and Blu-ray discs continued their nosedive in the first quarter as many collectors continued to opt instead for cheap rentals or online streaming. The industry trade group Digital Entertainment Group (DEG) reported that sales fell a whopping 19 percent during the quarter from the same period a year ago. The decline was partly based on the fact that the studios released more appealing product last year to take advantage of earlier holiday sales. (Easter occurred on April 4, 2010.) The plunge was somewhat offset by revenue from rentals, including online and kiosk sources, which rose 2.5 percent to nearly $2 billion. The shift from physical media to online downloads was apparent even in sales. DEG said that digital services like Apple’s iTunes Store saw sales rise 8 percent in the quarter to $614 million — representing 28 percent of total sales.