From The Art and Popular Culture Encyclopedia
The home video business distributes films and television series in the form of videos in various formats to the public. These are either bought or rented, then watched privately from the comfort of home by consumers.
It was not until the late 1970s, when European and Japanese companies developed more technically advanced videocassette recorders with more accurate electronic timers and greater tape duration, that the VCR started to become a mass market consumer product. By 1980 there were three competing technical standards, with different, physically incompatible tape cassettes. In 1987, video rental income reached $5.25 billion for the year, surpassing movie theater ticket sales for the first time. Today, movie studios regularly make more money on a film from home video sales and rentals than from the box office.
- Video nasties
- The late 1970s: Mass-market success of the videocassette recorder