Studio execs see Blu-ray revenue breaking $1 billion this year

While research firms chime in on the rate at which Blu-ray is being adopted worldwide, a handful of studio executives have suggested that Blu-ray revenue industry-wide could break $1 billion in 2008. During the Home Entertainment Summit in Los Angeles, presidents at Warner Home Video, Walt Disney Studios Home Entertainment, Lionsgate, 20th Century Fox Home Entertainment, Sony Pictures Home Entertainment and Universal Studios Home Entertainment all agreed that the $1 billion mark would be surpassed this year, while Paramount Home Entertainment president Kelly Avery maintained that $750 million was a more realistic figure. Notably, the bigwigs did admit that the growing popularity of digital downloads could eat into profits, but even we'd agree that BD is probably safe from too much erosion in the short-term.

[Image courtesy of Blu-ray]