According to Digital Entertainment Group, Americans’ appetite for home entertainment went up 9.5% above 2020’s record levels for the third quarter.
Though pandemic restrictions are easing and the theatrical box office is improving, US consumers continue to spend on home entertainment. Digital Entertainment Group’s study suggests consumers’ persistent eagerness for watching, renting and buying movies and TV series at home.
In the third quarter of this year, sales of physical discs around those theatrical new releases went up 38% in the quarter, while sales of digital versions of the films were up 73%. However, these figures exclude Premium Video on Demand (PVOD) sales. Even without the potentially considerable contributions from PVOD, spending on all kinds of digital products increased by 12%.
The study found overall spending on home entertainment went up by 6.3% to $23.6 billion for the first three quarters of the year. The report further stated, “With pandemic conditions improving as the year progressed and theatrical releases restarting, spending on home purchases of theatrical new releases have begun to pick up.” Additionally, this pattern is expected to continue in a positive direction.
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