According to a new report published by the British Video Association, sales of video entertainment on DVD, Blu-ray and digital formats are the single biggest revenue source for the production of film and television drama in the UK.
Overall, video revenue last year was down 2.2%, to £2.31 billion ($3.59 billion) from £2.36 billion ($3.67 billion) in 2010, but it was still more than twice the £1.1 billion ($1.7 billion) consumers spent on theatrical film releases.
More importantly, Blu-ray and DVD still accounted for 88% of video revenue, clearly remaining the most popular way to watch video content.
The report also cites Eddie Cunningham, President, Universal Pictures International Entertainment, who uses two British films to illustrate the important role video revenues play in his company's investment in original quality production:
"As the BVA's report shows, video continues to be a critical part of the film industry's ecosystem and a significant driver of revenue. Working Title's
Paul and
Senna are two great examples of British filmmaking at its best, and the revenue generated from video – more than 60% coming from home entertainment on these titles – is hugely important in helping British producers like Working Title re-invest back into production and continue to create great films."
Note: Blu-ray.com has reviewed the UK release of
Senna here.