DVD Sales Outpace Last Year's Growth Rate

18-Oct-02

The DVD industry experienced double digit growth in the third quarter, outpacing 2001's record sales. According to the DVD Entertainment Group (DEG), in the third quarter 2002, 153.3 million DVD software units shipped to retail, more than double what shipped in the same period last year.According to figures compiled by Ernst & Young on behalf of the DEG, more than 1.1 billion DVD movies and music videos have shipped since the format's inception in 1997.""The record pace continues for DVD as we move into the all-important fourth quarter,"" said Bob Chapek, President, DVD Entertainment Group and President, Buena Vista Home Entertainment. ""Consumers have been craving entertainment for the whole family on DVD, from their favorite classics to the recent box office blockbusters. This holiday season, we are anticipating stellar sales for the industry as the adoption of the format continues its penetration into mainstream households.""More than 18,000 titles are currently available with approximately 100 new DVD movies and music videos released each week. The cumulative box office gross of the releases for the fourth quarter 2002 is more than $4.3 billion, up 34 percent from last year. This is the largest box office gross of DVD releases for any quarter since the format was introduced in 1997. Hardware Shipments On Track For Record YearIn the third quarter 2002, 5.4 million DVD players shipped to retail, a 31 percent increase over the same period last year, according to the DEG. The total players shipped since the format's launch has reached 45.4 million. The DEG estimates that the industry is on track to ship more than 20 million DVD players this year alone.Additionally, according to figures compiled by the DEG, based on retail and manufacturer data, DVD players sold through to U.S. consumers have reached 43.7 million, with the format currently in nearly 33 million households (adjusting for homes owning two or more DVD players).""With the wide variety of players and the growth of game systems with DVD capability, the number of homes which will be able to enjoy the format should reach more than half of all US homes this year,"" said Gary Bauhard, Marketing Manager, DVD, Pioneer Electronics and Vice President, DEG. ""We anticipate that this diversity in both price and functionality will fuel a trend toward players for every television in the home, particularly with DVD's natural popularity this holiday season.""There are now more than 250 DVD player models marketed under 60 different consumer electronics brands. DVD players are available at most consumer electronics retailers and have become the focal point of the home theatre category. There are also an expanding variety of DVD players available, with home theatre-in-a-box systems, car players, DVD-Video/Audio combination players, portables, recordable units, and TV/DVD combination systems all growing in popularity.For more information, visit www.dvdinformation.com.

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