American Entertainment Spending Declines
American Entertainment Spending Declines
Sales of DVDs, CDs, video games and movie theater tickets all declined in 2010, and advancements in technology are likely to make it difficult for any of these media outlets to ever return to pre-recession levels. The entertainment industry, which has been said over the years to be recession-proof, will have to alter the way it makes money to return to levels of profitability it enjoyed in the 80s and 90s.
Broad-based segments of the industry suffered last year, with DVD sales falling 13 percent, CD sales dropping 19 percent, and sales of video games and box office sales for motion pictures off significantly, as well. Even the attendance at sporting events was down. And advancements in the areas of Internet TV and on-demand entertainment options will make it an uphill battle for Hollywood to get Americans' attention again.
Perhaps the most startling 2010 revelation for Hollywood, the pay-television industry suffered a loss last summer for the first time in history, a warning sign that Americans may no longer view cable TV as a vital utility on the level of electricity and phone service. All these trends, insiders say, are proof that content providers are subject to the same disruptive forces and technological trends that have previously paralyzed the newspaper and music industries.
Sales of DVDs, CDs, video games and movie theater tickets all declined in 2010, and advancements in technology are likely to make it difficult for any of these media outlets to ever return to pre-recession levels. The entertainment industry, which has been said over the years to be recession-proof, will have to alter the way it makes money to return to levels of profitability it enjoyed in the 80s and 90s.
Broad-based segments of the industry suffered last year, with DVD sales falling 13 percent, CD sales dropping 19 percent, and sales of video games and box office sales for motion pictures off significantly, as well. Even the attendance at sporting events was down. And advancements in the areas of Internet TV and on-demand entertainment options will make it an uphill battle for Hollywood to get Americans' attention again.
Perhaps the most startling 2010 revelation for Hollywood, the pay-television industry suffered a loss last summer for the first time in history, a warning sign that Americans may no longer view cable TV as a vital utility on the level of electricity and phone service. All these trends, insiders say, are proof that content providers are subject to the same disruptive forces and technological trends that have previously paralyzed the newspaper and music industries.
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