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Sony has written down $977 million in its movie business, blaming a decline in physical media sales:
In a Monday statement to investors, the company attributed the "downward revision... to a lowering of previous expectations regarding the home entertainment business, mainly driven by an acceleration of market decline." [...] "The decline in the DVD and Blu-ray market was faster than we anticipated," Takashi Iida, a Sony spokesman, told Bloomberg News.
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Sony Writes Down $977 Million in its Movie Business, Blames DVD and Blu-Ray Decline
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QOTD:
"My life is a soap opera, but who gets the movie rights?"
(Score: 2) by bob_super on Wednesday February 01 2017, @06:47PM
Other critical factor: Cord cutters.
Since i cut the cord, I don't get bombarded with movies trailers anymore.
So I don't realize all the "great" stuff I'm missing, if I only go to see what my friends recommend.
On top of which, they keep recommending stuff they see on Netflix. I may pay for Netflix, but for now I have too many movies left I could watch after someone paid for one year of Prime.
Result: less incentive to see movies at the theater, no incentive to buy (a DRMed license to restricted viewing).
And if I feel I may have missed something, I'll see it on the next intercontinental flight.