That's according to an article published today by Home Media Magazine.
The studio executives made the comments at yesterday's Home Entertainment Summit in Los Angeles. Despite some forecasts saying that Blu-ray sales may not take off for a few years, the movie chiefs say consumer acceptance is imminent.
Steve Beeks, president of Lionsgate, noted that a recent study found that nearly three million standalone Blu-ray players will be in homes by year's end -- and millions more will own Sony's Play Station 3, which also has a Blu-ray player inside.
“It shows consumers are really embracing the format,” Beeks said, according to Home Media, adding that 7-10 percent of weekly Blu-ray sales have come from the standard-def DVD.
Mike Dunn, president of the Fox studio, said consumer acceptance of Blu-ray will be faster than the standard-def DVD because more people are now familiar with digital discs.
Kelley Avery, president of Paramount, said she would be content if Blu-ray sales hit $750 million this year. But she said the $1 billion forecast is not impossible.
“When you look at the first half of the year, the business is slightly down,” Avery said, according to Home Media. “When we look at the summer slate of films across all the studios, you see that they can be a great bridge to introducing people to Blu-ray in the fourth quarter.
However, the executives also opined that Blu-ray player prices need to fall to get consumers to buy in. Avery expressed hope that a Blu-ray player will retail for under $200 in the fourth quarter. (The cheapest Blu-ray player now available is the $298 Magnavox, which was just launched.)
The execs also noted that many consumers are content to watch standard-def DVD players, or upconverting DVD players that enhance the SD image.
“Upconverters, we think, are a huge problem,” said Warner Home Video President Ron Sanders. “Those houses (that buy an upconverter) are out of the market for several years.”
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