Transactional Home Entertainment Posts Gains in Q1, Fueled by Digital Rentals and Theatrical Titles [Media Play News]

Transactional Home Entertainment Posts Gains in Q1, Fueled by Digital Rentals and Theatrical Titles [Media Play News]

BY THOMAS K. ARNOLD

May 6, 2024 | The transactional business had a surprisingly good first quarter this year, with consumer spending on digital rentals and purchases growing on several fronts in the three months ended March 31.

Spending on digital rentals was up 3.6% from the prior year’s first quarter, to $460 million, according to estimates from DEG: The Digital Entertainment Group. Spending on theatrical titles was up even more, by 8.8%, to $379 million.

And while overall spending on digital purchases of movies and shows was flat with the first quarter of last year at $564 million, spending on theatrical titles rose 7.1% to $380 million.

Even the slowdown in DVD and Blu-ray Disc purchases seems to be leveling off. Consumer spending on disc purchases in the first quarter of 2024 was down 15.2%. DEG stopped reporting disc rental revenue after Netflix left the business, but the disc decline was a significantly smaller drop than the 25.3% decline reported for calendar 2023 (when disc rentals and purchases were combined in the revenue figures). And sales of 4K Ultra HD Blu-ray discs grew 15.9% during the quarter, fueled by the release of such ‘A’-list catalog titles as The AbyssAliens and True Lies.

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