10Jan/060
Epstein: Blockbuster not coming to neighborhood near you
A nice summary of Blockbuster's (soon-to-happen) demise:
The other shoe dropped with the emergence of Netflix as a major online competitor for what remained of the rental market. (Blockbuster turned down the opportunity to buy Netflix for a mere $50 million, instead entering a disastrous home-delivery deal with Enron.) Netflix signed up over 3 million subscribers by 2005 by offering DVDs that could be kept as long as renters liked for a monthly fee. To compete, Blockbuster had to do away with its single biggest profit-earner: charging late fees to customers who kept videos past the due date. It also had to invest millions of dollars in a copycat online plan.
--Hollywood's New Zombie - The last days of Blockbuster. By Edward Jay Epstein
[Thanks to treebie JC]
RELATED POST: New Jersey sues Blockbuster
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