Sainsbury’s starts to web videoThis entry was posted on Wednesday, October 19th, 2011 and is filed under Latest News.
Following on from last week’s literary golden goose, where I outlined YouTube’s expansion into the film rental market, supermarket chain Sainsbury’s has just announces its own venture into digital downloads and streaming with its capture of Global Media Vault (GMV).
GMV has a vault of over three million films, games and albums, which Jamie Oliver’s favourite supermarket looks set to roll out digitally in the coming months, in conjunction with their own entertainment website. Luke Jensen, Sainsbury’s top boy, said that he felt that online retailing and the delivery of digital content will play a “key role in the future of entertainment”. And he’s not wrong.
It’s no coincidence that YouTube, Amazon (with their LoveFilm link-up) and Tesco – following their acquisition of Blinkbox – have all moved into the web video marketplace. It’s highly unlikely that three of the largest firms in the UK and beyond have all got their strategies wrong – in fact digital media is set to rake in more than £7 billion during the next financial year according to new figures.
This is of course cracking news for the British film industry and web video producers up and down the country – as a new medium for their work opens up. Maybe the Internet is the future after all…