As depressing as it is to see an American icon come this close to collapse, is it really any surprise? While the world kept turning,
Netflix kept reinventing itself and movies found their way onto the internets (legally),
Blockbuster sat still... and that's putting things nicely. Sure, it tried the whole movie set-top-box thing, but no on will argue that it went about things
the wrong way. In a recent SEC filing, the company made perfectly clear that there was serious risk that it wouldn't be able to refinance its crushing debt load in order to stay afloat for a wee bit longer; in fact, it noted that said quandary raised "substantial doubt" about its "ability to continue." 'Course, hampering its
Total Access rental plan and
promising less stock in-store doesn't exactly sound like a brilliant plan to be successful, but maybe yesterday would be the best time to completely revolutionize its business and go online only. Just an idea, is all.
Reader Comments (Page 1 of 1)
Nick @ Apr 7th 2009 11:50AM
Good effing riddance.
Miggity @ Apr 7th 2009 5:13PM
Iceberg right ahead! Hard a'starboard!
Blackstar @ Apr 8th 2009 1:52AM
Amen to that. Hope they all die horrible painful deaths.
Watched them crush all the mom and pop video stores in may area til none were left.
Left working at one BB video store only to have the independent place I moved to get bought out by them; so I ended up being stuck working for those sorry bastards again until I could afford to leave.
And considering at one time 33% of their revenues were late fees it's not surprising people turn to online streaming and Netflix entertainment solutions.
I know all the underhanded deals and nasty business practices they used to do firsthand; not only to customers, but to vendors too, let me say they completely deserve their fate.
Die Blockbuster... Die. I'll be munching on some nice hot butter popcorn while you gasp out your last.
See_Feel @ Apr 7th 2009 11:54AM
And the wheel turns once more. I recall the days when Blockbuster came in and crushed the independent movie stores, removing a unique experience for movie lovers.
Instead of going into the independent store and talking with an associate that was passionate about movies and could recommend unique films, the Blockbuster stores came to town staffed with mostly kids that if the movie didn't gross over 70 million then most of the employees had never heard of it. That is not to say all Blockbusters were like that but the local independent movie store was a unique business to America.
Thankfully Netflix has brought a better selection and the ability for consumers to have better tools to research and choose movies base upon their unique tastes.
So long Blockbuster, you had a pretty good run.
crawdad62 @ Apr 7th 2009 11:54AM
I gave up on BB way before there was any internet streaming of video (at least as far as legal movie viewing). Every time and I mean every time I rented a movie from their brick and mortar there was a problem. There were times I'd rent one and watch it and have it back that same day yet the next time I'd go in they'd say I'd still have the movie out. My wife cut her card up long ago. I gave them the benefit of doubt and still occasionally used them.... that is until Netflix came along.
Wryker @ Apr 7th 2009 12:04PM
Unfortunately if BB goes 'away' then that makes Netflix the 'only' player and they will be able to increase their rates (as they just did for Blu-Ray) anytime they want since they'll be no one else to compete.
Competition is good and this would remove any serious contender to Netflix. I love Netflix but I don't want it to turn into a "Microsoft".
Chip Douglas @ Apr 7th 2009 12:23PM
I just canceled my blockbuster subscription. I am moving to Netflix.
But there are plenty of other players in the market. One of the biggest is VOD. The Cable Company makes it easy for consumers to make a very easy POS purchase using their Box. For sure, Netflix is in the lead, but there are plenty of other ways to easily get movies to your television screen.
Nick @ Apr 7th 2009 3:49PM
If there is a market, there will be competitors. Besides, if BB gets the hell out, then hometown movie stores may begin to return...
jason @ Apr 7th 2009 12:54PM
Wait, wait, wait...I know people who visit this site and continually more and more people use and love Netflix and Netflix-ish services. But what are the 90%(ok, more like practical 80%) of other people gonna do if there isn't some place to go and rent a movie or a game.
There are some (but frequently less and less) other physical stores to go to but lets face it, most people who want to rent a movie or game go to Blockbuster. Plus, sometimes you don't wanna wait for a movie in the mail and PPV, as well as download options, is at least a $1 more expensive and have restrictions like a 24hour window.
I am saying this because it would be hard to believe that they could just go away...sad really...but I don't feel to sorry for the company, they have had their chances.
JDUBB @ Apr 7th 2009 12:59PM
It's called Redbox. I personally don't use it but that is taking over the stores for people to go rent. Sure they don't have it all like old movies and blu-ray but that's where Netflix comes in. Who can't afford $1 per night for Redbox or $6 per month on Netflix. Last time I actually went into Blockbuster and paid for a rental it was well over $5 - closer to $6.
kevin @ Apr 7th 2009 1:22PM
That's funny, because my Blockbuster offers rentals for $.99 a night. When my friends and I feel like getting together for a few hours to try out a Wii game we don't want to buy, we just drop a buck on the counter and pick up a game for the night. Honestly, I'm going to be pretty sad to see that go.
Michael Sterling @ Apr 7th 2009 1:47PM
Blockbuster rents movies for 99 cents a night? That's news to me...which means Blockbuster has NOT been promoting that enough. Maybe if they promoted that they'd have a much easier time keeping their head above water. For my family's part, we exclusively rent from Redbox, but have had moments of "gee, Redbox doesn't carry ___ movie. Too bad." If I knew Blockbuster rented 99 cents a night I would have gone there.
Mojo_Yugen @ Apr 8th 2009 9:33AM
So wait, according to your theory 80-90% of people are renting from physical stores and Blockbuster is STILL can't find a way to stay in business?
kita @ Apr 11th 2009 2:02AM
I don't understand why people complain about paying $4 for a 5-7 day rental from BB or Hollywood, but it's totally justified to be paying $1 a day at a Redbox kiosk?! Most people don't return their kiosk titles after just a day or two. How much $ did you save over the store then?
As for complaining about late fees, the big 2 switched from $1 a day 'late fee' to a re-rental policy/'late fee' (charged $4 to renew 5-7 rental period) about 10 years ago b/c people complained about the $1/day charges. Yet we've reverted back to the $1/day formula and no one thinks it's a big deal b/c 'there are no late fees, you just keep the title as long as you want'.
Not that I'm for Blockbuster or Hollywood, they did kill the independent after all...
David S @ Apr 7th 2009 1:35PM
If only they went HD-DVD exclusive, everything would have been different.
Spiza @ Apr 7th 2009 1:41PM
Another reason to go Blockbuster. Every video rental that I've seen close doesn't expect to get the rented movies back. If they do shut down, that is probably a couple of free movies.
L3 @ Apr 7th 2009 1:47PM
I am very happy with BB. $20/month for Blu-Ray! last month I logged 26 BD Movies.
AA D•Signs @ Apr 8th 2009 9:32AM
Vudu is one of the best VOD Services around and with No Monthly Fees and best HD Video too. the palyer is only $149.99 at BEST BUY !!!!
Chris D.(PSN: Aggie_CEO | XBL:The Aggie CEO | Steam: Aggie_CEO @ Apr 7th 2009 4:25PM
Redbox is eating them up as well as netflix....
maybe they will get picked up by nextflix.
And to Think just a year ago they were talking about buying Circuit City.....LMAO!!!
Blackstar @ Apr 8th 2009 2:00AM
Lol, isn't that a laugh huh? Man, I wish they had. Would have saved Circuit City a bit of debt, and Blockbuster would have died that much quicker. ;)
Just last month, I was actually in my old store that BB bought out; the once shining new place has turned into a massive dump, full of useless crap and endless copies of the same horrible pop-culture tripe.
happy1977 @ Apr 8th 2009 2:16AM
I'm actually sad that this is happening. I'm also surprised at the negative responses/experiences at blockbuster. I've been renting at BB since 2002 and I never had any problems mentioned above.
Also, I'd still say BB is better than any other online rentals. With BB, the stores plus the online access equals less time waiting to watch movies in blu ray. I can go ahead and watch the new releases on tue instead of waiting for very long queues. As for their mail-in movies, I never had any problems with the discs, except for a couple of wrong discs.
I'd say BB's problems are internal, just like how our economy went wrong.