A new report reveals Brits are looking for Home Entertainment value this autumn and staying home for some big nights in.
Years ago, there was no such thing as home entertainment. Sure, you could watch stuff on TV but until later into the 1970s, you couldn’t watch cinema movies at home. Then came along VHS and Betamax. These two formats allowed people to rent movies released on oversized cassette tapes to play on their TV screens thanks to a dedicated machine.
This was followed by Laserdisc, which while offering better quality pictures and sound, was overly expensive and died a quick death.
VHS SELL-THRU, DVD, BLU-RAY, AND DIGITAL DOWNLOAD
The sell-thru market for VHS movies soon caught on during the 1980s and for a long time, was the only way to watch movies at your fingertips. And then DVD was created. It is a scaled-down version of laserdisc. But it caught on in a big way and sounded the death knell for VHS. For years, DVD was the go-to format for our movies at home. Until Blu-ray was invented. This vastly improved picture and sound quality was slow to catch on but became a huge leap forward in home entertainment. Until digital downloads became available. Now, you can download and keep your entertainment on your phone, tablet, set-top box, computer, or TV with ease.
STAYING AT HOME
Why the history lesson, you ask? It’s simple. Instead of going out to watch the latest movies, 43% of the British public claim to be spending more time at home to save money. While I feel that you can’t beat the cinema experience, I can understand why people are doing it. You can download and keep or buy a DVD/ Blu-ray for between £9.99-£14.99. It would cost you that and more for a single cinema seat. A new report reveals Brits are looking for value this coming autumn, staying indoors to save money.
Let’s look at some more statistics. 11 million Brits are still using their DVD/Blu-Ray players and 87% of consumers identify as a fan of at least one major franchise. 55% of consumers love the simplicity, dependability, and tangible sense of ownership, while 4.1 million shoppers continue to buy discs annually. But that’s not all. The Evolution of Home Entertainment report predicts a UK category growth of £5.5bn by 2025. That is a serious chunk of change, in anyone’s eyes. These statistics come to us via reports from the British Association For Screen Entertainment (BASE), and the Digital Entertainment Group International (DEGI).
According to new reports from British Association for Screen Entertainment and Digital Entertainment Group International, in 2022, 43% of the British population claimed to be spending more time at home to save more with an additional 36% considering this or more likely to do this.
The price of a new release across disc or digital download has remained unchanged for 9 years compared to streaming services which have fluctuated and increased in recent years, offering inflation-busting value and consistency for consumers. And with 11 million Brits still using their DVD and Blu-Ray players, this offers a surefire way to bring the ‘night out’ experience to the home for a fraction of the cost, allowing audiences to marry what they love and want with the change in their circumstances.
SIMPLICITY AND A BIG NIGHT IN
The new report reveals that more than half of consumers (55%) love the simplicity, dependability, and tangible sense of ownership, while a huge 4.1 million shoppers continue to buy discs annually. The Evolution of Home Entertainment report predicts a UK category growth of £5.5bn by 2025, a rise of 114% on the £2.5bn predicted pre-pandemic, and a forecast transactional cumulative consumer spend of £2.4bn to 2025.
The value of a big night in can still feel like a night out for all the family with consumers using Home Entertainment in several ways to meet their needs. Kantar data suggests that many will say that a film night will be elevated into a special occasion by simply renting or buying a film to keep. Kantar’s data demonstrates that consumers are choosing their formats based on occasions, for example, rental tends to be the chosen format for a date night, whereas PVOD or EST is better suited for a family night.
There is a much larger emotional connection and affinity when consumers talk about their favorite films or TV shows, leading them to believe that owning content makes them feel closer to the story and characters they love. Research shows that 87% of consumers identify as a fan of at least one major franchise which drives higher spending through all stages of the consumer journey.
Liz Bales, Chief Executive at British Association for Screen Entertainment & DEGI: Digital Entertainment Group International said: “The events of the last few years have demonstrated that even the most established structures can shift at speed in times of uncertainty and that the landscape of entertainment is open to change. Consumer behavioral insights will continue to shape agendas and initiatives as technological and business innovations stare down tradition and unashamedly rewrite the rules.”
How do you watch your entertainment? Do you wait for it to drop onto digital download or DVD/ Blu-Ray? Or do you venture out to the cinema to watch the latest movies? Please let us know in the comments section below.
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Carl Roberts is the News Editor of The Future of the Force. Aside from being our horror genre aficionado, he is also passionate about Star Wars, Marvel, DC, and the Indiana Jones movies. Follow him on Twitter where he uses the force frequently!