who decides what the default movie format is?

Question by me: who decides what the default movie format is?
like when the switch was made from video to dvd or from dvd to blu ray. since a lot of companies manufacture the players and make movies who decides when to change format and what to change to?

Best answer:

Answer by Andy D
It’s not a centralized decision, it has moe to do with market forces, and available technology. Companies offer many different formats over the years, and only those that reach a certain market saturation are universally adopted. One company takes a risk, and if they don’t make enough of a profit the format is abandoned. Laser Disks, UMD’s and Beta tapes are all examples of failed formats.

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