In another sign of decline of the physical discs, Disney has reached deal with Sony’s home entertainment division to handle all Disney releases on DVD and Blu-ray along with all physical media production.
This month the Digital Entertainment Group, a trade consortium, released a preliminary annual report which states a robust demand for movie titles rose revenue by 17%, but disc sales and rentals dropped 25% to just shy of $1.6 billion.
This news was first reported by website The Digital Bits, per their reporting they will operate on a licensing model. Sony will market, sell and distribute new Disney releases as well as catalog titles on DVD, Blu-ray and 4K Ultra DVD via retailers and distributors in the U.S. and Canada.
Disney has a ton of film titles from the classic Disney, 20th Century (Fox), Hollywood Pictures, and Touchstone libraries to draw from across every genre you can think of.
Disney is keenly focused as a company on finally achieving profitability in the coming months on flagship streaming service Disney+, which launched in November 2019.
Sadly physical media has been trending downward for a long time due to the emergence of digital releases and the advent of streaming services, which makes the the next move, while sad, not shocking. The Disney Movie Club is closing down.
A statement released by Disney the firm said, “After 23 magical years, it’s time to say goodbye. After serving over 10 million valued Club Members, we have made the difficult decision to close the Disney Movie Club. We will miss the opportunity to be part of the lives of so many Disney fans, including you, but we will be forever grateful for the time you’ve chosen to spend with us.”
The service will be retired in July of this year, but current members will have until May 20 to place any remaining orders.
