blockbusted
Slashdot | Blockbuster Files for Bankruptcy
Dallas-based Blockbuster Inc. filed for Chapter 11 bankruptcy protection yesterday, calling into question the futures of over 5,600 stores worldwide. The company will be evaluating each location on a case-by-case basis, and seeks to cut costs after reporting a $558 million net loss last year. Newsweek credits the company’s slow adoption of new media distribution methods as a big reason for the company’s decline. “… while Blockbuster discussed creating its own subscription service to rival Netflix, it wasn’t until August 2004 that its online DVD rental program actually started in the US. And when, in 2004, Coinstar entered the market with its Redbox DVD kiosks, Blockbuster didn’t begin installing similar devices until 2008.” CNET suggests that “Leaders of pay TV services might be wise to start doing the business equivalent of digging foxholes and manning the battlements or the same thing could happen to them.”
I honestly cannot say that I’ll miss them.
Sure, it sucks for all the folks who’ll be losing their jobs… And I sincerely hope they’re able to find employment elsewhere… But I’ll be glad to see our local Blockbuster close its doors.
We used to have several smaller video stores with interesting and unique inventories, with competent staff, which I thoroughly enjoyed shopping at. They had obscure movies that Blockbuster would never carry. They had employees who could direct you to movies based on what you’ve enjoyed in the past. They had cool specials. They were great. They were cheaper than Blockbuster.
And they all went out of business when Blockbuster showed up.
I haven’t rented anything at Blockbuster in a year or more. There’s no reason to spend $5 on the same new releases that are available everywhere else.
I get my movies from Netflix or Redbox. They’re cheaper, and they’ve got a better selection. Why would I go to Blockbuster?