The Video Software Dealers Assoc. released a report today (July 25) revealing that more people view the latest movies on home video than on any other medium.

The Video Software Dealers Assoc. released a report today (July 25) revealing that more people view the latest movies on home video than on any other medium.

Consumers spent a total of $24 billion buying and renting DVDs and VHS cassettes in 2004, which is more than twice as much as consumers spent purchasing tickets at the box office, according to the report.

Sell-through video sales were $16 billion in 2004, a 15% increase over 2003 totals. Additionally, $8 billion was generated by rentals, staying about equal with 2003.

Spending on music DVDs increased 60% in 2004 compared to 2003. Further, sales of single disc TV on DVD titles increased 74% between 2002 and 2004 and about 60% of U.S. households had at least one console DVD player by the end of last year.

Video-on-demand was available in about 22 million households in 2004, and digital video recorders were in less than 7 million homes.

Also, mass merchants had a 50% market share of sell-through consumer spending on home video last year. Blockbuster, Hollywood and Movie Gallery, the top three rental chains, accounted for more than 50% of spending on rentals, while independent stores held 38% market share for rentals.

VSDA's annual Home Entertainment conference begins today, and runs through July 28 at the Bellagio Hotel & Casino.