Physical media sales plunge as streaming's march continues

Josh Hall's picture

UK consumers are continuing to switch to streaming services, with sales of physical media falling dramatically.

Sales of DVDs, CDs, and physical video games dropped by almost a fifth during the second quarter, according to new figures from Kantar.

Total physical entertainment sales fell by 19 per cent during the period, from £263.9 million to £214 million.

The big-name retailers suffered particularly dramatically from the collapse, while streaming services and online retailers like Amazon ate up market share.

HMV saw its share drop from 17.7 per cent to 14.4 per cent, while Tesco saw a fall from 10.3 per cent to 8.3 per cent.

Amazon, meanwhile, strengthened its hold on the sector, with the online retailer now taking one in every four pounds spent on physical media.

The US giant's figures are in line with previous predictions about its future performance.

In June, GlobalData research suggested that Amazon will account for one in every five pounds spent online across every type of goods by 2024.

See all the winners from the Prolific London Awards

The inaugural event championed creative brilliance from across the capital