DVD's fall goes 'way beyond' economy

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Jennifer Netherby

Disney chief Bob Iger said the blame for DVD’s fall goes “way beyond” the economy while speaking at the UBS 37th Annual Global Media and Communications Conference in New York City on Wednesday.

Iger said there’s more competition for consumers’ money and entertainment than before, and consumers would have to cut back on their DVD collections.

“The collection phenomenon when VHS converted to DVD has slowed significantly,” he said. “It’s a trend we’d see occurring regardless of the economy.”

Meanwhile, Time Warner head Jeff Bewkes, speaking at the same conference on Tuesday, said DVD’s fall has slowed.

“They are not declining as fast as they were last year,” he said, blaming last year’s DVD downturn on the recession.