Rich Fiscus
10 Jul 2008 12:55
After reading a recent study which concludes DVD ripping in the UK is on the rise you might get the impression the home video industry is in trouble. But according to figures from the British Video Association that's simply not the case. Their numbers indicate that 2008 sales are actually up 3.3% from last year.
“Last year proved a bumper year for the home entertainment industry with 250 million videos sold and DVD accounting for 99% of that. We are delighted to see that the half year 2008 figures reveal an increased demand for home entertainment, especially in the current challenging economic climate," said Lavinia Carey, the organization's Director General.
In fact they're predicting continued growth in spite, or more accurately because of the economic downturn which continues to face the world economy as a whole.
She said “History has shown that in times of economic hardship, consumers find even more value in home entertainment when the leisure pound is stretched as it is. As video is one of the most cost-effective forms of entertainment we would expect to see continued volume growth in our market as consumers tighten their belts in response to increasing economic uncertainty.”