Blockbuster on its last leg
Cory Bergman November 2nd, 2007
Looks like the internet is about to claim another old school victim. Blockbuster just came out with its third quarter earnings: down 5.7 percent with a net loss of $35 million, despite closing 526 stores in the last year. Writes Don Reisinger on CNET, “Much like the print media and retail stores refusing to change, Blockbuster has been a victim on an online company finding new and inventive ways of bringing a product to a customer. And due to its size and outdated corporate culture, there really is no salvation for Blockbuster at this point. Try as it might, the future of Blockbuster is bleak, at best.”
I can’t say I’m going to feel any sense of loss. The writing has been on the wall for years, and Blockbuster only recently decided to try to do something about it.
9 Comments Add your own
1. Safran | November 2nd, 2007 at 12:58 pm
Talk about seeing it coming. People have been predicting this forever. Blockbuster has had at least 10 years of warning, and anyone with some vision should have had 15. This will be a classic business school case study of what happens when big companies refuse to change.
2. Rocker | November 2nd, 2007 at 1:02 pm
There are still Blockbuster stores out there?
3. Rocker | November 2nd, 2007 at 1:57 pm
Serves those SOB’s well, for making a business model out of ripping people off by charging outrageous “rewind” and “late fees” not to mention ocesn of mediocre action pictures.
Seee you hell, Blockbuster
4. Chris | November 2nd, 2007 at 2:51 pm
Personally, I like the convenience of Blockbuster’s Total Access.
I like to get the movies in the mail, and return them at the store for a free rental.
I can get almost twice as many movies per month, rather than waiting for the USPS to ship them back and forth.
5. Anon | November 2nd, 2007 at 2:58 pm
Amen Rocker! Blockbuster became so arrogant about its rewind and late policies, that I left in 2000ish. This is no suprise to anyone.
6. Rob | November 2nd, 2007 at 3:29 pm
Having to give my credit card information to Blockbuster in exchange for an account was enough for me to decide to rent somewhere else.
7. Anonymous | November 2nd, 2007 at 4:56 pm
And Netflix will eventually get rid of their signature red envelopes altogether, with downloads becoming more popular.
8. will | November 2nd, 2007 at 9:36 pm
Pretty soon it will be down to those Redbox kiosks in the supermarket and McDonald’s (with a few scrappy independents hanging in there) or Netflix if you want to rent a physical disc.
9. Eric | November 4th, 2007 at 10:46 am
yes, customre service was the reason I left. I was charged 80$ for a lost movie that I did not rent, I had an airtight alibi as I wa sin Bootcamp at the time and could account for my whereabouts 24/7 for the month - they refused to deal with me and demanded the emoney even with that evidence.
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