| The_Liquid_Laser said: 1) No. I am not sure how old you are or if you were paying attention when Blockbuster was in trouble, but it was in trouble far before Netflix even offered a streaming service. "Of course digital distribution of movies was the thing killing physical distribution". We are talking about Blockbuster. It was not killed by digital distribution. 2) Your chart starts at 2006. Most of the damage was already done by then. Go back to the 90's or better yet to the 60's. Also you need to adjust for inflation and population growth. The numbers tell a very different story. The music industry is just a hollow shell of what it used to be. |
1) Regardless of Blockbuster, Netflix is a great example of the industry adapting to new consumer habits and demands. The home entertainment industry hasn't suffered at all since digital became big. On the contrary, digital is actually growing nearly twice as fast as physical is declining.
Box office revenue is growing as well in spite of digital and streaming.
2) I'm aware that the music industry chart starts at 2006 (it's the newest chart I could find) and that the music industry used to be a lot bigger (I even wrote that it peaked in 1999). But it has been growing for the past 3 years and I can see it fully recover eventually. It has already reached 70% of its peak and while that doesn't adjust for inflation, it's still an industry far from being dead. In fact, it was a $17.3 billion industry in 2017. And 2018 will probably be even bigger.
Digital is taking over my friend, and it isn't the end of the world.
