Sony and Panasonic plan Blu-Ray successor for 2015 In a joint statement, the companies said that optical discs have excellent properties to protect them against the environment, such as dust-resistance and water-resistance, and can also withstand changes in temperature and humidity when stored. They also allow "inter-generational compatibility" between different formats, ensuring that data can continue to be read even as formats evolve. This makes them a robust medium for long-term storage of content. "Going forward, Sony and Panasonic will continue to hold discussions regarding the specifications and other items relating to the development of this new standard," they said. Although the firms claim the primary target market for the new technology will be businesses wishing to copy and store their data 'in the cloud', there is also likely to be demand from the consumer market for higher capacity discs. In spite of the popularity of streaming services such as Netflix and LoveFilm Instant, the British Film Institute (BFI) claims there were 179 million disc-based videos sold in the UK last year, accounting for more than £1.5 billion of sales.