It is hard to believe, but the surge in online streaming options from Amazon, HBO, Netflix, Hulu and others have not yet outsold DVDs. However, that is about to change this year. DVDs are on the way out.
According to a new report from consulting firm PricewaterhouseCoopers, money spent on video downloads and streaming subscriptions in the United States will surpass DVD sales and rentals for the first time in 2015. This is great news for all of those streaming services.
The numbers fall like this: Online video is set to increase 13 percent and take in $9.5 billion while physical DVD sales are expected to drop to $7.8 billion. Then in 2017, online sales figures are projected to hit the $12 billion. To put that in perspective, this would surpass the US box office tally for theaters.
DVDs aren’t anywhere close to dead yet though thanks to services like Redbox and Netflix’s disc option, but the format is still heading the way of CDs. Interestingly, music streaming outsold physical CDs last year too, and is set to overtake digital sales within three years. It’s been nice knowing you DVDs, but streaming is where it’s at. You’ll always be in demand to use as coasters.