As the public continues to quarantine due to the coronavirus, the Digital Entertainment Group (DEG) is reporting that consumers spent $7.3 billion on home entertainment during the third quarter of 2020.
The DEG says these figures represent an 18% increase over 2019. The trade group points out that with Hollywood productions on pause and the temporary closing of movie theaters, the public has shifted its at-home media consumption from new media to catalog titles.
According to the DEG, demand was strong across web-based rental platforms with spending increases of 25% in Q3 (third quarter), and year-to-date spending up 46%.
Overall, the public has spend $22.2 billion on digital and physical home entertainment content over the first nine months of the year. This figure is 23% higher than 2019 spending figures.
Home Entertainment spending highlights include:
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- Total spending on digital formats and subscription streaming rose 34% from the same period in 2019 to reach a total of nearly $20 billion. Subscription streaming rose 39%.
- DEG says digital purchase (EST) and rental (VOD) transactions were up 20% year-to-date over Q3 2019.
- Some of the most popular new titles that were either purchased or rented include “Trolls World Tour,” “Bill & Ted Face the Music,” and the “King of Staten Island.”
- Some of the most popular catalog titles consumers either rented or purchased include “Harry Potter and the Sorcerer’s Stone” and “Harry Potter and the Chamber of Secrets.”
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