These days, DVD sales account for less than 10% of the total market, with total sales hitting $2.2 billion in 2018.” That is a decline of over 86%. While some critics and movie lovers still purchase physical media, DVD manufacturers may see these numbers as a death knell.
But, to repeat, this isn't the end of physical media. Now, Disney will likely cut back its 4K releases in the future because the medium isn't taking off like it hoping it would. But we'll still see general Blu-Ray releases, as well as re-releases of stuff from Star Wars and Marvel that still caters to fans.
Best Buy made the initial decision to end DVD sales nine months ago, according to one source. Best Buy confirmed Friday that it is ending sales of DVDs. “To state the obvious, the way we watch movies and TV shows is much different today than it was decades ago,” a Best Buy spokesperson said in a statement to Variety.
The state of physical media — whether it's DVDs or video games — is in question as people increasingly move to streaming services. Walmart could be the next to make a move with one video game executive suggesting the retail giant could drop Xbox games soon, and potentially retreat from physical games even more in 2024.
Starting in 2024, Best Buy will be ditching the sale of physical DVDs both in-store and online, as streaming services have rendered physical media more and more obsolete. The new sales strategy was first reported on by The Digital Bits and then confirmed by Best Buy in statements to different media outlets.
Collecting & The Sad Decline of Physical Media: First They Came for Retail, Now for Physical Media!
Why are DVDs not popular anymore?
It's not uncommon for old media to be replaced by newer technologies. After all, we saw this happen after VHS tapes were slowly replaced by DVDs. Streaming is a popular way to consume media these days, and DVD sales have declined by 86% since 2008.
DVDs and Blu-ray discs will be replaced by streaming services. Consumers head to streaming services to watch movies, and the addition of Disney+ to the mix will only make DVDs and Blu-Ray discs even less of a necessity.
Best Buy, which had 1,129 store locations as of mid-2023 (including 969 in the US), will still sell physical media during the holiday shopping season before discontinuing the sales anywhere between January and March 2024. However, it will continue to sell physical copies of video games.
By modernizing their search engine, Walmart was able to make more of their inventory accessible online and enhance the shopping experience for customers. Meanwhile, the addition of a store map to the mobile app helped shoppers navigate through the store and made on-site shopping a lot more convenient.
The consumer electronics retailer plans to phase out its DVD and Blu-ray sales by early 2024 — with physical movies set to be sold in-stores and online as they are today through the holidays, Best Buy confirmed to The Associated Press Friday. Video games will not be impacted.
"To state the obvious, the way we watch movies and TV shows is much different today than it was decades ago," a company spokesperson told WCCO. "Making this change gives us more space and opportunity to bring customers new and innovative tech for them to explore, discover and enjoy."
DVD and Blu-ray sales in the U.S. were an estimated $1.58 billion in 2022, according to the Digital Entertainment Group, a decline of nearly 20% from $1.97 billion in 2021. Disc rentals have also shrunk from $602.7 million in 2021 to $502.4 million in 2022.
Disney has made the decision to stop releasing DVDs and Blu-rays in Australia, marking a significant shift away from physical media. This move comes as Disney focuses on streaming services like Disney+, making their theatrical content available for online viewing.
Despite what seems like a downward trend, physical media is more important than ever, and it's not something you should give up on if you're a true fan of film. Variety confirmed the news that Best Buy would be phasing out physical media altogether following the upcoming 2023 holiday season.
Everything you watch on streaming or purchase digitally is compressed. That means that, regardless of hardware, you're still getting lower picture and audio quality (yes, even those “fancy” 4K versions some streamers have started offering).
The company, which became the largest retailer in the world with a huge chain of stores, is changing its name to reflect its increasing emphasis on e-commerce. As of Feb. 1, it will no longer be "Wal-Mart Stores" and will get rid of the hyphen and drop "stores" from its legal name.
Wal-Mart is now officially Walmart. The company had been known as Wal-Mart Stores Inc. since 1970, but it announced a change in December. That became official today when it filed new incorporation papers in Delaware.
While Wal-Mart Stores as a corporate legal name is rarely used in public-facing materials or in stores themselves, CEO Doug McMillon said in a statement that he felt the name change was needed to be “consistent with the idea that you can shop us however you like as a customer.” He added: “Our customers know us as ...
Is Best Buy exiting the physical media business in 2024?
In yet another sign of the triumph of streaming, Best Buy will reportedly stop selling physical DVDs in-store and online beginning in 2024, according to CNBC and other media outlets.
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After the introduction of the DVD format in 1996, however, the market share for VHS began to decline. In 2003, DVD rentals surpassed those of VHS in the United States, and by 2008, DVD had replaced VHS as the preferred low-end method of distribution.
A lot of people may think that DVD players are obsolete, but the number of new releases, and increase in quality and special features says otherwise. You may be surprised to learn that DVD players haven't completely gone extinct just yet. Today, there are plenty of choices when it comes to streaming services.
Many Blu-ray and DVD selling stores and collectors are planning to revive more than 700 million discs in the market in 2022. Most of the awaiting customers are 90s kids aged between 25 and 39. This tells us the possibility of DVDs and Blu-rays coming back to the top by the overwhelming responses from their enthusiasts.
