Sony Just Wrote-Off $1 Billion Because of Poor DVD
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Posted On: 01/31/2017 9:28:39 AM
Sony Just Wrote-Off $1 Billion Because of Poor DVD Sales
by Luke on January 31, 2017 in News
-See more at: http://cordcuttersnews.com/#sthash.0uAz6grs.dpuf
Sony Just Wrote-Off $1 Billion Because of Poor DVD Sales
by Luke on January 31, 2017 in News
Pile of Many CDs or DVDsIn just one more sign up of everything changing Sony took a staggering $1 billion loss thanks to poor sales of packaged software such as DVDs.
“We knew the movie [business] isn’t in good shape, but the write-down was a total surprise,” Damian Thong, an analyst at Macquarie Securities told MarketWatch.
But maybe this should not be a surprise because Amazon now rents more movies than Redbox does. It has been many years since Blockbuster shut down and even Best Buy has started to shrink its DVD displays moving them to less desirable locations in stores.
Add in the fact that a growing number of shows, such as Fox’s “The Simpsons,” no longer release new seasons on DVD but posts them on streaming services such as Vudu, iTunes, and Amazon Video. Even Sony pointed to the move to streaming services such as Netflix for the huge write-off.
Though all of this has to be taken with a grain o
- See more at: http://cordcuttersnews.com/sony-just-wrote-of...PYVcU.dpuf
by Luke on January 31, 2017 in News
-See more at: http://cordcuttersnews.com/#sthash.0uAz6grs.dpuf
Sony Just Wrote-Off $1 Billion Because of Poor DVD Sales
by Luke on January 31, 2017 in News
Pile of Many CDs or DVDsIn just one more sign up of everything changing Sony took a staggering $1 billion loss thanks to poor sales of packaged software such as DVDs.
“We knew the movie [business] isn’t in good shape, but the write-down was a total surprise,” Damian Thong, an analyst at Macquarie Securities told MarketWatch.
But maybe this should not be a surprise because Amazon now rents more movies than Redbox does. It has been many years since Blockbuster shut down and even Best Buy has started to shrink its DVD displays moving them to less desirable locations in stores.
Add in the fact that a growing number of shows, such as Fox’s “The Simpsons,” no longer release new seasons on DVD but posts them on streaming services such as Vudu, iTunes, and Amazon Video. Even Sony pointed to the move to streaming services such as Netflix for the huge write-off.
Though all of this has to be taken with a grain o
- See more at: http://cordcuttersnews.com/sony-just-wrote-of...PYVcU.dpuf
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