MUMBAI: DVDPlay a DVD rental kiosk operator and developer, has reached a new milestone with 13 million DVD movie rentals, an indicator that DVD rentals continue to be one of the fastest growing segments of the home entertainment market.
With cost, currency and convenience stimulating strong customer demand, DVDPlay attributes its accelerated ten-fold growth in 2007 to easy access through major grocery chains and convenience stores, as well as campus bookstores and office complexes. DVDPlay boasts more than 1,400 kiosks nationwide and will deploy an estimated 1,800 more by the end of 2008.
“The DVD is very much alive and will continue to be a dominant home entertainment medium for the foreseeable future,” said DVDPlay chairman of the board and chief executive officer Chuck Berger. “Video on demand is still an emerging market given the significant technology obstacles and other barriers that have yet to be overcome.”
According to The Digital Entertainment Group, 33 million DVD players were sold to US consumers in 2007 putting the total number of DVD players in US homes to 230 million, counting portable units and televisions with built-in DVD players. An estimated $16 billion was spent purchasing DVDs in 2007.
Berger added, “Today’s DVD delivers three times the resolution of what you can download. The vast majority of consumers prefer DVDs and have invested in players and other equipment for a quality home theater experience.”
With competitive pricing that is up to 70 percent lower than traditional video stores, DVDPlay continues to experience rapid growth within the industry. Unlike retail brick-and-mortar outlets, DVDPlay kiosks combine innovative technology and seamless customer experience without significant retail space or manpower.
“The overwhelming response from the public is indicative that our kiosks are important to movie-goers who want convenient access to affordable entertainment,” said Berger.