The hits keep on coming for Blockbuster as it sits crumpled in the corner of the ring, waiting for the bell.
Last week, Blockbuster UK was forced into administration, a move which imperiled 528 stores and 4,190 jobs. Then – just yesterday - BBC News reported that Blockbuster UK would close 129 stores across the pond, leaving 760 employees facing the threat of layoffs. According to Joint Administrator, Lee Manning, the move is a “… consequence of having to restructure the company to a profitable core which is capable of being sold.”
To top it all off, the third punch in the recent flurry landed today. Multiple outlets are reporting that Blockbuster now plans to close 300 stateside stores in the next few weeks, leaving the chain with only 500 stores in the U.S. Though that may sound like a healthy amount, consider that Blockbuster once laid claim to over 4,000 locations.
The surviving stores may now shift to selling smartphones and/or wireless subscriptions, as parent company Dish Network hopes something will stick to a wall that has repelled every projectile.
Dish insists that it still believes in the marketability of Blockbuster’s household name-brand, but if the company continues to be thwarted at every turn, we could see the complete dissolution of a one-time industry leader.
Can anything stop the internet from huffing and puffing and blowing brick and mortar down?
I am surprised they made it as far as they did in the instant video age. If anyone in their upper management would of even typed in a search engine back in 2003 “instant video streaming” they would’ve seen 90% of people were using it.
Blockbuster should’ve kept their stores but did a higher focus on video games, (higher quantity of games in stock, option to buy after rental, in store specials…etc..), Launched redbox like kiosks, and launched an instant video service like vudu.
But instead they sat around and treated netflix,redbox,vudu like they were fads…Blockbuster back 3-4 years ago would’ve been able to knock all of those guys into the dirt like they did back in the early to mid-90s with local video stores.
Exactly. Their CEO was an idiot. Their timing was way off and sure they might not have seen the successful rage of Netflix/Redbox but they should’ve at the very least had a Plan B in the works, cause it never hurts to have backup just in case.
Blockbuster has and always will be a dinosaur of the past. They were relevant in the once booming industry of DVD & VHS rentals but since the advent of streaming and direct mail rentals, it has been obsolete. It’s been obsolete since 2003 when Netflix first started to eat away at Blockbuster’s market share. They struggled then and they struggle now. I remember a meeting with a category manager at their HQ back in April 2010 and they were still playing the same song and dance they always played, “Blockbuster is fine, we won’t go under.” They’re not fine and haven’t been fine since I worked there as a lowly CSR back in 2004/2005. They need to just fold already.
Blockbuster is still a thing?
Yeah, sorry but online content is the future – watch it legally … check CLYC
I thought they were all closed already – they are all gone from Wichita, KS – we do have their machines tho! I think that and NetFlix are the waves of the future. Family Video is GREAT for oldies!
netflix killed em. then redbox cut their head off.
The last time I was in a blockbusters I asked a clerk for help and he had no time for me so I told him I will try out this this Netflix because it can’t be any worse than you!
It was only a matter of time.
They sent a collection agency after me for $8 they can go to hell
There are still Blockbuster stores ?
They’re been on the ropes for yrs.
Yes people still go to Blockbuster, but they’re all closed in my town. So as someone that can only use so called high tech alternatives: I can tell you that the alternatives suck when it comes to options and renting older movies. Its like some of us are in a transition period where the old is out and the new hasn’t quite caught up yet with options and services.
Not sure if its an urban myth… any truth to the story that the netflix founders approached BB with ‘an idea’ and got laughed out of the office?
Does any one still go to blockbuster? Netflix and Fios have everything i need