2007 was a time of flux for the movie industry. Consumers were besieged by entertainment options and trying to pick a direction, while the movie industry itself was tumbled around by format wars, a Writer's Guild strike (with more than 12,000 writers joining in), and a soft economy.
Despite the tumult, the industry performed well and the disruption resolved in the first quarter of 2008 as the strike and the format war found resolution with Blu-Ray emerging victorious. Though the economy continues to slump, it seems to actually be having a positive impact on movie expenditures, as they win out over more expensive forms of entertainment.
795,000 U.S. households had high-definition video set-top consoles in 2007; HDV availability jumps
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