Statistics from trade body the Entertainment Retailers’ Association suggest that while gaming is the star performer, music sales on the High Street have been seriously undermined by downloads – and that DVD prices are falling all the time.
As forecast by MCV last year, ERA’s figures show that games software is clearly the second most valuable entertainment market at retail in 2007 – and is snapping at the heels of DVD.
And retailers yet to take advantage of this trend are missing out, according to ERA director general Kim Bayley. Games have overtaken music massively this year – music revenues are down on last year’s figures and game sales are huge in comparison now,” she told MCV.
In unit terms music is still important, but in value terms a lot less so. Games prices hold up a lot better against music and DVD – it won’t be long until games revenue overtakes DVD. In years to come, games and DVD will vie to become the biggest market. That battle will depend on what products are out and how retailers react.”
SPENDING ON ENTERTAINMENT AT RETAIL:
Thanks to the Entertainment Retailers’ Association, here we present the vital statistics from the last three years: