Home entertainment Q1 sales off $4.8 bln – report

LOS ANGELES, April 15 (BestGrowthStock) – Consumer spending on home
entertainment products, including DVDs, Blu-ray discs and
digitally distributed content, in North America fell 8 percent
to $4.8 billion in the first quarter of 2010, said the Digital
Entertainment Group (DEG) on Wednesday.

The industry trade group, comprising big studios like Walt
Disney (DIS.N: ), Sony Corp (6758.T: ) and many other technology
and media companies, said Blu-ray disc software was a bright
spot, with sales up 74 percent in the first quarter to 34
million discs shipped to retail. That latest tally brings the
total shipped since the high-definition format’s launch in 2006
to 211.2 million discs.

No dollar figures for the Blu-ray category were released.

The group said Blu-ray Disc hardware sales also experienced
strong growth, with set-tops up 125 percent from a year ago.

Total rental was down 14 percent as a result of
brick-and-mortar store closures by chains like Blockbuster Inc
(BBI.N: ) and Movie Gallery Inc (MVGRQ.PK: ), the DEG said.

Digital distribution, including electronic sell-through and
video-on-demand, grew a combined 27 percent to $617 million.

Stock Market News

(Reporting by Sue Zeidler; Editing by Richard Chang)

Home entertainment Q1 sales off $4.8 bln – report