Still Using DVDs And Blu-Rays? Best Buy's Latest Move Could Be A Huge Let Down
With the home entertainment scene firmly in the court of the streaming industry, physical media has become more for collectors and preservationists than casual viewers — as well as those who may not have the means to get a streaming subscription.
While plenty of movies and shows still release on physical formats like DVD and Blu-Ray, there's generally less of a desire for them in the viewing public since they can watch whatever they want through streaming. This is why Netflix ended its long-running mail-order DVD service back in April. In spite of all this, major retailers like Best Buy have continued to sell physical media, but for whatever reason, it seems that commitment is coming to an end.
In an announcement first picked up by home entertainment blog The Digital Bits, and corroborated by a Bloomberg report, Best Buy revealed that it will be gradually phasing out the sales of physical media from its both its 1,129 physical storefronts and its online storefront, including DVDs, Blu-Ray discs, and Ultra 4K HD discs, beginning in early 2024.
"Making this change gives us more space and opportunity to bring customers new and innovative tech for them to explore, discover and enjoy," a Best Buy spokesperson told Bloomberg in a statement.
Less media, more tech at Best Buy
According to Best Buy's most recent quarterly sales statistics, released back in August of 2023, the sale of home entertainment media only accounts for about 9% of the company's total revenue. In the grand scheme of things, ending the sale of physical media would not hamper it significantly.
In a clarification to Bloomberg, the Best Buy spokesperson noted that popular movie and TV media may temporarily return to store shelves during the holiday shopping season. The spokesperson also noted that physical video game sales will not be included in this discontinuation.
With Best Buy's departure from the physical media scene, the remaining major distributors of DVDs, Blu-Rays, and Ultra HD discs are Walmart, Amazon, and Target. DVD rental service Redbox also still has a sturdy foothold in the industry thanks to its rental kiosks found in big box stores and supermarkets around the United States.
Of course, as streaming continues to dominate media, DVD manufacturers have also been scaling back their efforts. According to trade reports from The Digital Entertainment Group, overall sales of DVDs have been down by at least 28% compared to last year, and prominent DVD manufacturers like Ingram Entertainment have begun winding down their own processes as the money flow has slowed.