IBISWorld: Video Postproduction is ‘Dying Industry’

Video postproduction is identified as a “dying industry” because of the growth of digital media, says research firm IBISWorld, which in March issued a report listing 10 “Dying Industries.”

The report says, “While the U.S. economy is headed further into recovery, not every industry is performing well.” In addition, the report says, of “IBISWorld’s database of close to 700 industries, about 200 are in the their decline phase. Of these 200, IBISWorld has identified 10 that may be on the verge of extinction in the United States.” In addition to video postproduction, the industries listed by IBISWorld are:
  • Wired telecommunications carriers
  • Manufactured home dealers
  • Record stores
  • Photofinishing
  • Apparel manufacturing
  • Newspaper publishing
  • DVD game and video rental
  • Mills
  • Formal wear and costume rental

Video postproduction is “exhibiting steep declines” because of “technological advances, particularly involving the widespread adoption of digital media, have adversely affected the industry’s range of services, from editing and animation, to archiving and format transfer,” the report says. The new technologies are undercutting video postproduction services “since production companies can now do much of the work in-house,” the report says.

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