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Home video spending in US falls 2 percent in 2011 as Blu-ray sales rise but DVD sales fall
LOS ANGELES (AP) ' Home video spending in the U.S. was down 2 percent to about $18 billion in 2011, as a surge in the popularity of movie streaming services like Netflix Inc. and gains in Blu-ray disc sales helped offset some of the drop in DVD purchases.
That's according to the Digital Entertainment Group, a consortium of Hollywood studios and electronics manufacturers.
Sales of Blu-ray, which became the high-definition standard in February 2008, are up 20 percent to hit $2 billion for the first time.
Digital streaming plans, which weren't broken out last year, racked up nearly $1 billion in sales.
DVD sales declined 20 percent to about $6.95 billion.
The overall decline in home movie spending was smaller than in 2010, when the industry reported a 3 percent decline.