LG discontinues Blu-ray player business as market shifts to streaming

LG has officially discontinued its Blu-ray player business, marking a significant shift in the market. All Blu-ray products on LG's website are now labeled as "discontinued," reflecting a broader decline in physical media sales. Sales of physical media dropped 25% in 2023, making up only 3.6% of the U.S. video market. In contrast, streaming services saw a 22% revenue increase, now accounting for 86.3% of the market. Sony and Panasonic remain the only manufacturers of Blu-ray players, but they have not released new models since 2018. LG has not ruled out a return to Blu-ray production if demand increases.