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Blockbuster Heading for the Dustbins of History?
Massive layoffs are in the cards at Blockbuster, as revenue slid almost 6 percent in the 3rd quarter, stock prices are down to an anemic $5.06, and 526 stores have been closed in the last year. It appears that Netflix has not only put a chink in Blockbuster's armor but given it a flesh eating virus.
Blockbuster managed to put pressure on Netflix with lower prices, but all the focus on destroying the pioneer of DVD rentals via mail has taken an even worse toll on Blockbuster.
Consumer familiarity with Netflix and its streaming films have proven too much for Blockbuster to battle. Blockbuster chairman Jim Keyes has even admitted that the focus on Netflix has damaged the company. He has decided to move the focus of the company to just increasing overall membership but it might be too late. Like the traditional print media outlets barely scraping by in this new online economy, Blockbuster may be staring death in the face.
From Crave
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Comments
483
Subscribe to commentsPatNov 12th 2007 2:32PM
I'm a BBuster fan. I really love watching movies and use both the on-line and trade in at the store. I have no intrest in watching movies on my computer when I have a great HDTV screen. Thier days can't be numbered because there are people like me who have always had good service and like the in-store options.
JeremyNov 13th 2007 5:50PM
Hey I quit Block buster years ago.
I used to rent on Friday and return at 11:00
am on Sunday. Always had late fees.
Later block buster you screwed me now screw YOU
R BreadNov 13th 2007 2:46PM
I own a small town video store. Blockbuster as well as Hollywood Video have tried endlessly to work with the "bad" customers who don't return movies. I "run off" every customeer who does not return movies on time (give or take a couple days.) This has made my business successfull! I have even had the police go to the peoples house to arrest them for not returning "my" movies. I have the reputation in the community that if you want to steal my movies that supports my family, I will come after you with everything I have.
99% of my customer base are good people that pays the late fees and in most cases, bring the movies back on time.
Hey Blockbuster, run the fools off that can't return a movie on time. You will succeed without them! Don't let them run or ruin your business. Only you have the power to do that!
People who can't follow the rules of when to return a movie, do not deserve your patronage anyhow! Good luck Blockbuster
Signed,
Respected competition
God Bless!!!!!!