Blockbuster CEO Jim Keyes who deserves some kind of award for awful management repeatedly downplayed the threat of Netflix and said this in 2008: "I've frankly been confused by this fascination that everybody has with Netflix." What insight! Guess he could not appreciate Red Box either. Indeed, also in 2008, at a time when in-store kiosks with $1 rentals started popping up everywhere, Blockbuster touted its brick-and-mortar business and dismissed the significance of new distribution models.
If major movie studios cut off credit for the DVD renter and retailer, it would likely push the struggling company into bankruptcy sooner rather than later.
I predict that in the relatively near future Blockbuster will go bust, producing more empty stores and even higher unemployment. Many of us will only remember high late fees (recently reinstated), lousy service, too many joyless car rides and too much money spent on terrible movies. Remember CircuitCity?
(Note: You can view every article as one long page if you sign up as an Advocate Member, or higher).