Looks like watching movies on your PSP will soon be going the way of the dodo. Next-Generation is reporting that the UMD movie format is a complete dud. Everyone from major Hollywood studios to Wal-Mart are dropping the format like turds into a toilet.

An anonymous Hollywood executive scoffed at UMD, saying that absolutely no one is watching movies on the PSP. Likewise, Paramount is claiming that releasing UMD format editions of popular movies is "the exception, rather than the rule": "No one's even breaking even on them," he claimed. And a Universal Studios executive went even farther: "Sales are near zilch. It's another Sony bomb." Ouch!

We're not terribly surprised. If you're going to watch portable video, the newer iPods are much more versatile investment, let alone any of the media devices with dedicated hard drives that are now being released. Any Kotakuites out there actively purchase UMD movies, or is this as likely to be a non-event to PSP owners as the advent of UMD was to Hollywood studios?

Wal-Mart 'Quitting UMD Movies' [Next Generation]

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