"Even more worrisome is the precipitous decline in DVD sales. At $7.8 billion, last year's level was 43% below the 2006 peak of $13.7 billion" -IHS Screen Digest data
People just aren't as willing to go to the movies or to go to the video store to rent a movie. There are so many more convenient and less expensive ways to view different kinds of media today. NetFilx is a widely used and convenient way to watch movies by getting them sent to you in the mail. Another way is Pay Per View which shares the convenience of NetFlix. Movie prices have raised in order to keep up with the lack of demand, this is ultimately drawing people away from going to the movies. So how are movie companies overcoming this problem? They are trying out a variety of strategies. One strategy includes the use of sequels. Because there was a first movie to the sequel there will not have to be near as much promoting the movie and ultimately would be cheaper. Some sequels that were and are expected to be successful are Toy Story 3, Pirates of the Caribbean, Scream, Mission Impossible, and Transformers. Another way that these companies are overcoming the lack of sales is to incorporate items to the movies that could be sold such as toys for Toy Story 3. Another way is to incorporate the use of franchises in order to overcome lack of sales. Another idea is to appeal their media overseas. I personally have noticed that I am not going to movies or renting them anymore, I wonder how companies can appeal to people who have found cheaper and more convenient ways of watching media?
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