DVD-Video is now the most successful consumer electronics product launched ever

Enjoying even greater sales than expected in the all-important fourth quarter, DVD-Video was hailed as the most successful consumer electronics product launch ever. Figures compiled by the DVD Entertainment Group (formerly DVD Video Group) based on retail and manufacturer inventory levels announced today at CES estimate that hardware player sales sold through to consumers since the format launched have reached more than 5 million players in North America (United States and Canada).

Industry executives named DVD-Video the “Medium of the Millennium” and boast that it is the fastest-growing new packaged media format launch in history with close to 5.4 million DVD-Video players shipped to retail since the format launched nationally in the United States in fall 1997 (Consumer Electronics Association). The outlook for next year is equally promising. The DVD Entertainment Group estimates that hardware shipments will double to 8 million DVD-Video players in 2000. And, based on the success of the
format exceeding all previous forecasts that number could be even higher.
The group also estimates that the installed base will more than exceed 10 percent of U.S. households, a benchmark of success for a consumer electronics product.

The surge in hardware sales is a positive boost for retailers. In 1999, DVD-Video hardware represented more than $1 billion in retail sales. This includes stand-alone players only and does not include DVD-ROM drives or other home theater products. “With over 5 million players in consumer homes, DVD-Video has clearly reached mainstream acceptance,” said Emiel N. Petrone, chairman, DVD Entertainment Group, and executive vice president – worldwide, Philips Entertainment Group. “The future for home video is here. DVD is the Medium of the Millennium.”

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