Very true. And the VHS sales collapsed for the same reason, right?
The difference is that VHS sales gave way to DVD sales at comparable prices, vs. DVD sales are giving way to cheap streaming/rental. Where retailers were selling VHS or DVD for $5-50 a pop, those sales are being replaced by rentals at $0.50-$5 per viewing. People aren’t watching much more, but they’re paying 1/10th to watch.