HMV Boss: DVD and Blu-Ray Sales Rise Despite Streaming Boom

The head of HMV has observed a renewed interest among shoppers in purchasing physical movies and TV shows, even amidst the rise of streaming services.

Sales of Blu-rays and DVDs have started to grow again, reversing a trend of decline that coincided with the popularity of streaming platforms like Netflix and Disney+.

Phil Halliday, managing director of HMV, expressed that the company is in “good health,” with all its main product areas experiencing growth despite a challenging consumer climate.

He particularly highlighted the resurgence of the “physical visual” segment, attributing the upswing to collectors who are driving sales.

Halliday noted that the increase in streaming services, the uncertainty about available content on various platforms, and rising subscription costs have likely contributed to this shift back to physical formats.

“It’s been really positive to see physical products in visual back on the rise – 4K and Blu-Ray are performing notably well,” he remarked.

“It’s akin to how people buy music physically; many want to own specific titles. There have been great new releases, like Challengers, which are attracting collectors.

“Initially, many viewed streaming as a cheap option with a vast selection. However, perceptions seem to be shifting now. People are inclined to purchase physical copies of shows or films they plan to rewatch,” Halliday explained.

This trend aligns with strong recent performances in music, technology, and merchandise across HMV’s 120 stores in the UK and Europe.

Since the company’s acquisition by Doug Putman in a 2019 rescue deal, HMV has increased investments in its stores.

Last year, HMV made a notable return to its historic Oxford Street store after a four-year hiatus, during which the location was occupied by an American-style candy shop.

According to Halliday, the reopened store has been doing well. “The store has been a significant boost for the business. It’s a large site, and it’s been exciting to revitalize it,” he said.

“However, it’s crucial to note that our excellence isn’t limited to Oxford Street. Our core strength lies in the numerous stores located within communities across the UK,” Halliday added.

“Currently, we have good coverage in terms of locations in the UK, and we’re pleased with their current performance,” he concluded.

Source: PA Media