Everybody Panic: DVD Sales Down For The First Time Ever

DVD sales slipped for the first time since the format was introduced in 1997, says USAToday.

Consumers spent $16 billion buying DVDs, about $600 million less than in 2006. But rentals matched last year’s total of $7.5 billion.Hollywood shipped 1.7 billion discs — about 30 million more than in 2006 — a sign that DVD remains strong, Smith says. “There is a natural progression to lower price points due to the maturing market,” she says. “But there are still titles — big blockbuster releases, collector sets and, mostly, TV DVD compilations — that are generating high price points.”

The average selling price of a DVD dropped 0.5% to $14.63.

Despite the downturn in DVD sales, the $23.7 billion total spending on home video dwarfs Hollywood’s $9.6 billion box-office total for 2007.

Could this mean that the market has absorbed all the $170 Miami Vice Complete Series boxsets it can handle? The horror.

DVD feels first sting of slipping sales [USAToday]