Trying to borrow enough to go broke through a Chapter 11 bankruptcy reorganization
instead of going broke through a Chapter 7 bankruptcy liquidation is not encouraging
for the shareholders of this major movie distribution outlet.
Trying to borrow enough to go broke through a Chapter 11 bankruptcy reorganization
instead of going broke through a Chapter 7 bankruptcy liquidation is not encouraging
for the shareholders of this major movie distribution outlet.
Not surprised......
It’s got to be hard to run a movie rental store when there are virtually no new movies worth watching.
Even if I had a coupon for 10 free movie rentals, I doubt that I could find more than two that I would be interested in.
They should have minimized when Netflix came out.
Somehow I don’t feel sorry for the gorilla on the block that saw easy money in the 80s by squeezing out mom and pop video rental stores with advantages of scale and then proceeded to rape customers with high priced fees for two decades. Poor service, greedy and their time has passed. Good riddance.
Here’s a business model for ya..in my local shopping center, there’s a Blockbuster store...average cost is $3 for a first run...or in the same mall..at my Publix..there’s a Blockbuster kiosk...$1..
Small fiddle! These guys ran the “Mom and Pop” Video stores into the ground when they appeared.
With all the movies I have "On Demand", in addition to the library of DVDs we've built over the years, why would I want to pay money to rent a DVD for a couple of days?
This is the company that arrived on the scene with a chairman (or whatever) who repeatedly gloated that he was going to put all those 'Mom and Pop' video stores out of business - which he largely did. What goes around comes around.
Compared to Netflix, Blockbuster was anti-consumer.
Again, I find this pretty sad: I've been a blockbuster customer since the early 1980s, when VCR prices were still pretty high, and I could rent a VCR for parties, and get a couple of movies for the weekend.
Mark
A little bit of sorrow for me. My first movie card was with Blockbuster, and we used to have Dad take us their on New Years Eve to get movies for us all to watch.
But I haven’t been to one in over a year.
They want a bunch of dollars to rent a video you can now get a for a buck out of a machine.
Death of the horse and buggy type of situation IMO.
When BB got rid of their stock DVDs ($1 and $2 per) and priced every DVD (BD or otherwise) at $5, I walked. Too rich.
I miss the days of $1 rentals at the local markets which abandoned rentals two years ago.
Blockbuster should have seen the technology handwriting on the wall years ago, sold the company and started a new company in a completely different market, something like a chain of no-haggle higher end used car dealerships.
Netflix is cleaning their clocks. This isn’t even about the depression were are in. Business could be booming and Netflix and the little red $1 rental boxes in stores have made having to go to a specific store to pay for movies at $4 a pop with exorbitant late fees, obsolete.
Blockbuster and Hollywood, etc, are obsolete. Their business model no longer works. People want movies to go to them - Netflix. Cheap/poor people are getting movies for $1 a pop in the red vendor machines at stores.
Blockbuster is screwed because they failed to coopt the Netflix business model. With their name recognition, they could have been a direct competitor with Netflix in set fee, by mail DVD distribution. Instead, they are going bankrupt.
Idiots.
But the main reason I use BB instead of Netflix is because right after Obama was elected the idiot CEO of Netflix grandly announced he thought everyone should be paying higher taxes. I sent him the website where he could donate all the money he wished to the Feds and refuse to do business with his company no matter what they offer.
Freepers: be advised