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US home video revenue down; DVD sales off 16.5 pct

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LOS ANGELES (AP) - U.S. home video revenue fell 4 percent to $12.6 billion for the first nine months of 2010 as DVD sales plunged 16.5 percent, a gap that soaring sales of Blu-ray discs and downloads didn't fill.

The figures were released Thursday by a consortium of movie studios and electronics makers called the Digital Entertainment Group.

DVD sales fell to $5.5 billion, and rental revenue fell 4.4 percent to $4.4 billion.

Spending on digital downloads and video-on-demand rose 23 percent to $1.7 billion, while purchases of Blu-ray discs rose 80 percent to $1 billion.

Total spending was $13.1 billion in the period last year.

Even with rising digital and Blu-ray sales, Ron Sanders, the president of Time Warner Inc.'s Warner Home Video unit, said, "We continue to encounter tough market conditions."

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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