Warner cuts projections on high-def dvd sales due to Blu-ray delays…..
Warner is backing off of that huge golden fourth quarter forecast they predicted a few months back citing Blu-ray hardware delays. According to the studio consumers have only spent $30 million on the new formats which is far less then what was expected and therefore Warner has dropped the amount they are going to spend on the formats. Panasonic, Sony, Pioneer, and Samsung are all going to have players out by Christmas (hopefully) but this hardware was initial suppose to be out, well, now. It takes time for consumers to warm up to new tech and takes even more time for retailers to put the stuff on sale so more then just the early adapters will buy ’em. Thus Nickerson has indicated that consumers are only going to spend $750 million instead of the the initial $1.5 billion originally forecasted and only $150 million will be spent on Warner’s bread and butter, software. We just wonder what the accountants would be saying if the two formats would have consolidated way back when.