For Hollywood studios, who have been lamenting the decline of DVD sales for some time, it looks like it’s not all bad news.
Jeff Bewkes, CEO of Time Warner, says that DVD sales have not fallen as precipitously this year as they did last year, Home Media Magazine reports.
According to the report this is what Bewkes said Tuesday in New York at the UBS media conference: “ ‘DVD trends are not declining as fast as they were last year. I think some of that was the pressure of the economic contraction.’ That said, Bewkes reiterated his concern about $1 DVD kiosk rentals and their appropriate place in the home entertainment food chain. He said he would support the business models that have appropriate margins and not those that don’t."