July 16, 2021
Ten years ago, home entertainment executives were more upbeat than they had been in years. The business posted its first positive quarter since the start of the 2008 global economic meltdown. With a 20% year-over-year sales gain, Blu-ray Disc was rejuvenating the physical disc business, while 3D Blu-ray was the talk of CES. And studio marketers were enthralled with the prospect of digital distribution, with a consortium of studios and other companies launching UltraViolet, a cloud-based “digital locker” that lets consumers stream and download purchased content to multiple platforms and devices. David Bishop, at the time president of Sony Pictures Home Entertainment, called UltraViolet “a major game changer.” The nascent streaming business, meanwhile, stumbled when Starz Entertainment ended content license renegotiations with Netflix, which meant the service would soon lose access to Disney and Sony Pictures movies.