An entertainment industry trade group has released data showing that streaming-video sales outpaced DVD sales for the first time in 2016, Variety magazine reported Friday.
“The $5.4 billion in disc sales fell well short of the $6.2 billion tabulated from SVOD providers like Netflix,” said the trade magazine, citing figures released by the Digital Entertainment Group.
What’s more, Variety noted, video-on-demand (VOD) edged out “spending on electronic-sell-through” outlets — such as iTunes by $67 million.
Simply put “the growth of VOD is a sign that the rental model for single title transactions is persevering on digital too,” Variety said.
The new data may be more evidence of a looming generational shift in terms of media consumption.
A 2016 survey of millennials on their TV viewing habits showed nearly half (49 percent) of Americans in the 18- to 34-year-old category either went with services like Netflix, DVR-recorded programs or video-on-demand selections as their “go-to” TV viewing, compared to just 29 percent who watch their TV programming live.