Home entertainment spending in 2008 did not prove to be recession-proof. The entertainment industry did however show some resilience. Consumer spending on rentals and purchases of DVD and Blu-ray Disc had a moderate fall of about 5.7% to $21.7 billion, according to data provided by major studios.

Consumers did spent $488 million on digital rentals and purchases of films and TV shows over the Internet, according to Adams Media Research. This was up 73% from 2007 figures.

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Top 20 DVD Sellers
Rank —Title
1     Dark Knight (Warner)
2     Iron Man (Paramount)
3     Alvin and the Chipmunks (Fox)
4     I Am Legend (Warner)
5     Kung Fu Panda (DWA/Paramount)
6     WALL-E (Disney)
7     National Treasure 2: Book of Secrets (Disney)
8     Indiana Jones & the Kingdom of the Crystal Skull (Paramount)
9     Enchanted (Disney)
10     Bee Movie (DWA/Paramount)
11     Mamma Mia! (Universal)
12     Juno (Fox)
13     American Gangster (Universal)
14     Hancock (Sony)
15     Sex and the City (Warner)
16     Game Plan (Disney)
17     The Chronicles of Narnia: Prince Caspian (Disney)
18     Dr. Seuss Horton Hears a Who! (Fox)
19     27 Dresses (Fox)
20     Tinker Bell (Disney)

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2008 Oscar Winners

We are certainly in a recession and 2009 will probably be a bad year. This is the first recession in 17 years and a new experience for many young folks. People – Don’t panic it is not the end of the world. It is in fact nothing new. The simple truth is that our system, capitalism, moves in cycles of boom and bust. It is bust time in the cycle and that means recession. This is not the first recession and it won’t be the last. Politicians and the media would have you think that this is the “end of the world” and the “worst recession since the Great Depression of the 1930’s” and they would be totally wrong. Those of us that are older or students of history know that they are wrong.

Let me suggest to the younger people in America to do a little historical reading about our great country and you might put yourself at ease over this current recessionary period. In a recession, many people are affected but the great majority of businesses will not fail. Remember the old adage – “glass half full” or “glass half empty”. 10 % unemployment means 90% of the workers in the country are still at work. We do need to help the 10% get back to work but panic and paranoia from our government in billions of wasted dollars will not get that 10% in lifelong meaningful jobs.