February 22, 2018
New format 4K UHD will be a key driver in extending the Blu-ray format, according to a new report from Research and Markets, “Global Blu-ray Media and Players Market, Forecast to 2023.”
“The intense bandwidth requirements of 4K content formats are unable to replicate the smooth and seamless playback of 4K UHD titles,” the report found. “Therefore, physical Blu-ray discs are still considered one of the best options for enjoying HD content that also supports HDR and Dolby surround sound. The majority of consumers, especially in the developed markets, are increasingly turning to UHD Blu-ray players to access movie and TV show content. To meet this demand, over 250 UHD titles were released in 2017 alone.”
The new format is offering an assist to a Blu-ray market facing competition from online services, according to the report.
“While physical discs remain a key revenue generator in the home entertainment business, the growing revenue from digital services and the rise of download and over-the-top (OTT) streaming services such as iTunes and Netflix have negatively impacted physical disc sales in the last four-five years,” the report found. “Therefore, an overall gradual decline in disc sales through the forecast period is expected.”
Unit shipments for the global Blu-ray players market are expected to decrease from 72.1 million in 2017 to 68 million in 2023, according to the report. Unit shipments for the global Blu-ray media market are expected to decrease from 595 million in 2017 to 516 million in 2023.