ack in the late 1980s and early 1990s, �Buy audio and rent video� was the catchphrase in home entertainment. Those were the days of the video home system (VHS), when people rented movies and enjoyed a show on their VCRs (video cassette recorders) at home. However, from the mid-1990s, the advent of cable and satellite (C&S;) television, a time lag of more than six months between the theatre release and VHS release of movies combined with the poor quality of pirated software, sounded the death knell for this popular mode of entertainment. All that changed in the late 1990s.

The first signs of turnaround came in 1997 with the introduction of video compatible discs (VCDs) that offered significantly better quality. The growth was steady until the turn of the century, when DVDs burst onto the scene. This was followed by falling prices of the VCD/DVD players, which further boosted sales. In 2002-03 the growth rate peaked at 100 per cent, which is at present down to 30 per cent. Recent trends, however, indicate that this roller coaster ride will be halted and a more stable, steady growth will follow.... more