If you are interested in 4K blu-ray, a new player is necessary. Most older players should be able to bitstream a Dolby TrueHD/Atmos and DTS:X metadata but some may have issues. If you are still using a 1080p TV, then your only concern would be the audio and I think you will be ok. Of course, you will need a Dolby Atmos and DTS:X capable AVR as well.