Hot on HuffPost Tech:

See More Stories
AOL Tech

Blockbuster Heading for the Dustbins of History?

Blockbuster Heading for the Dustbins of History?
Is Blockbuster doomed to go the way of the dodo and Betamax? Crave, the gadget blog from the tech-obsessed at CNet seem to think so.

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

Related links:

Tags: blockbuster, media, movie, netflix, rentals, tv



Add your comments

Please keep your comments relevant to this blog entry. Email addresses are never displayed, but they are required to confirm your comments.

When you enter your name and email address, you'll be sent a link to confirm your comment, and a password. To leave another comment, just use that password.

To create a live link, simply type the URL (including http://) or email address and we will make it a live link for you. You can put up to 3 URLs in your comments. Line breaks and paragraphs are automatically converted — no need to use <p> or <br /> tags.