Is Physical Media Dead? A Look into Sales Trends

In September 2023, the Cohen Brothers' film 'True Grit' marked Netflix's last physical DVD mailing, coinciding with Best Buy's announcement to end physical media sales. This raises the question: Is physical media dead? Not quite. In 2022, physical media generated over $2 billion in sales—a significant drop from its peak of $16 billion in 2005, highlighting a shift in consumer preference towards streaming services. Nevertheless, there remains a dedicated market for physical movies, especially among niche companies like Criterion, Vinegar Syndrome, and Arrow, which cater to collectors and enthusiasts. Stores struggled to stock physical copies of cinematic hits like 'Oppenheimer,' showcasing ongoing consumer demand. While the landscape has changed dramatically, evidence suggests that the death of physical media has been greatly exaggerated; there persists a loyal audience willing to engage with physical releases. The future of physical media may not resemble its past boom, but it certainly has not vanished, continuing to thrive in a smaller, curated niche within the larger entertainment market.