With another year under their belt, why does Blu-ray still seem to be another “also ran” in the home media market?

It was one year ago today that I announced that I had decided to go with HD-DVD, and I knew full well that probably meant I had picked the wrong format in the high def war.  I was proven right in February of this year when HD-DVD threw in the towel, and it looked like a lock that Blu-ray would become the dominant format.

So, why hasn’t it happened?  Blu-ray is still languishing with only a single digit percentage of the home media market, and it doesn’t look to be gainging more traction with the economy in its current uncertain state.  As I see it, Blu-ray is fighting a multi pronged fight that it didn’t even ponder it was going to have to.

• As people have said everywhere, DVDs still look too good on a high def television to warrant people running out and buying yet another format.  With upconverting DVD players pushing standard definition discs to near HD quality, and those players still selling for less than a Blu-ray player, it’s hard for people to make the justification for going with Blu-ray.
• Even when people do go with Blu-ray, they are not buying films in the numbers they were with regular DVDs.
• Streaming media is becoming more common, and on numerous devices people already own.  For instance, the fact that you can stream Netflix films via the XBox 360 now.  Why purchase what you can stream, and be out more money and space in your home?
• The prices for Blu-ray players and their accompanying discs are still just too high compared to their standard definition counterparts.

You add up all of these problems, and it doesn’t look too promising for the high def format.  Yes, I fully admit that this may sound like sour grapes over me goign HD-DVD, but it isn’t, because I have been very close to throwing in the towel and buying a Blu-ray player several times since February.  At this point I don’t think buying into an HD format is a wise choice for any one.  Streaming is becoming more and more prevalent, and I don’t see standard def DVDs going anywhere, so I’m thinking it may be wise to just sit out this home media iteration and see where the chips land.

In short, don’t be me and put all your money on what could be a losing horse.