Sales of DVDs, music and video games are defying the credit crunch, according to new figures.
The Entertainment Retailers Association (ERA) said High Street and online stores sold 485.8 million units in 2008 - 4% up on 2007. It said that is the equivalent of nearly 20 DVDs, games or albums for each and every one of the 24 million households in the UK. ERA director general Kim Bayley said: "Against a dismal economic background and faced with the loss of the industry\'s biggest wholesaler, Entertainment UK, right in the middle of the vital pre-Christmas sales period, entertainment retailers have delivered remarkably positive results." The fastest-growing sector was, as expected, computer games which saw unit sales grow 17% to 82.8 million units. This was spearheaded by the popularity of console games (up 28% to 74.3 million units) which was led by the huge success of Nintendo\'s Wii platform. In video, the high definition Blu ray format saw sales grow 358% to 3.7 million units. Meanwhile, a decade after the launch of the format in the UK, DVD sales achieved growth of 1.9% to reach 252.9 million units. Total video sales reached 257.9 million. Music\'s performance was led by the single which achieved sales of 115.1 million units - up 33% on 2007. This was thanks to booming sales of downloads which now account for 95.8% of the singles market. But in a striking reversal of recent fortunes, sales of albums actually increased in the fourth quarter of 2008 compared with the same period of 2007. The end result was the total album market declined just 3.2% in 2008, far less than most pundits expected. Experts predict the home entertainment market will grow even further as the crunch bites and people look to spend cheaper nights in. (Source: Matt Smith, Sky News)
The Entertainment Retailers Association (ERA) said High Street and online stores sold 485.8 million units in 2008 - 4% up on 2007. It said that is the equivalent of nearly 20 DVDs, games or albums for each and every one of the 24 million households in the UK. ERA director general Kim Bayley said: "Against a dismal economic background and faced with the loss of the industry\'s biggest wholesaler, Entertainment UK, right in the middle of the vital pre-Christmas sales period, entertainment retailers have delivered remarkably positive results." The fastest-growing sector was, as expected, computer games which saw unit sales grow 17% to 82.8 million units. This was spearheaded by the popularity of console games (up 28% to 74.3 million units) which was led by the huge success of Nintendo\'s Wii platform. In video, the high definition Blu ray format saw sales grow 358% to 3.7 million units. Meanwhile, a decade after the launch of the format in the UK, DVD sales achieved growth of 1.9% to reach 252.9 million units. Total video sales reached 257.9 million. Music\'s performance was led by the single which achieved sales of 115.1 million units - up 33% on 2007. This was thanks to booming sales of downloads which now account for 95.8% of the singles market. But in a striking reversal of recent fortunes, sales of albums actually increased in the fourth quarter of 2008 compared with the same period of 2007. The end result was the total album market declined just 3.2% in 2008, far less than most pundits expected. Experts predict the home entertainment market will grow even further as the crunch bites and people look to spend cheaper nights in. (Source: Matt Smith, Sky News)
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