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Lovefilm streaming overtakes DVD rentals

The number of films and TV series being streamed via Lovefilm’s online service has rapidly overtaken the number of DVDs, Blu-rays and games being rented by the company.

According to the company, the number of films and TV episodes being watched on internet connected devices exceeded the number of DVDs, Blu-rays and Games rented by over 20% so far this year. This represents an increase of over 400% on the same period last year. Lovefilm said its DVD rental business is still growing and is up 25% year-on-year.

In January, the company passed the two million subscriber mark in Europe.

Jim Buckle, managing director of Lovefilm, said, “The first quarter of 2012 has shown us two things: that Lovefilm members are watching more films and TV series both on the internet and on DVD than ever before and; in less than three years, streaming through Lovefilm Instant has become more popular than renting DVDs.”

Tags: Lovefilm