About a month ago, I was searching through my wallet when I came across a card that I forgot I even had. It was my Blockbuster card. It felt like years since I had seen, not to mention even use the card. There was a Blockbuster store in my hometown when I was younger; however, it went out of business around the time On-Demand and Netflix started to explode. Hollywood video opened a store, but they soon went out of business as well. I decided to go online and research Blockbuster to see if any stores actually existed anymore. I quickly learned that Blockbuster just recently announced that they soon will be delisted from the NYSE (New York Stock Exchange). This pretty much summed up the status of the company and the direction they are heading.
When I was younger, I used to love walking into a Blockbuster store and seeing wall to wall stacked of videos and games. There would always be more movies that I would be able to choose from. As time went on, a Hollywood Video store opened in my town. Then the Netflix became the huge phenomenon. I never became a Netflix user and still to this day have never used it. It is not necessarily that I am against Netflix; it is more of the fact that I am not an avid movie watcher to make it worth it. Eventually On-Demand came out and that is when I started to hear in the news that Blockbuster, Hollywood Video and all other video stores were starting to struggle. I noticed that Blockbuster was eventually gone from my hometown along with Hollywood Video. The video stores were just no competition for Netflix and On-Demand that provided much better services for the public. On-Demand and eventually Netflix became a few clicks away on your remote to order a movie, where renting a movie from blockbuster consisted of driving to the actual store. When Blockbuster tried to improve its services by using the mailing system like Netflix, late fees and rate charges just seemed to increase year after year. It was a service that obviously just did not work out.
The NYSE informed Blockbuster last week that it would be delisted starting some point this week. As I read this in the news, I realized that it was just another sign of a near future end to the once dominant video rental chain. I learned that Movie Gallery, which operated the Hollywood Video brand, after many bankruptcy organizations, announced its closing earlier this year. I could only think that Blockbuster will not be far behind. I only see it as a matter of time considering Netflix is having the benefit of record-breaking sales. In 2009, the company generated $115 million in profit. With Netflix, adding services available through gaming systems like X-Box 360, its memberships are just constantly increasing. Although Blockbuster has been able to avoid bankruptcy at this point in time, it is quite clear that it’s delisting and continued decrease in profit, its future is just not looking too bright.
There was a blockbuster near my apt. I was thinking about rent some videos from there. However it cloesd before I took an action. What a pity. I have a friend who is a Netflix member. He shares the videos with us. I would say this industry maybe good because we can watch the video at home with our family members or our friends. It might be a good way to keep the relationship compare to the gaming.
I completely agree with your article and it is kind of sad to me. I also used to love going in to blockbusters and picking 1 or 2 video games and 1 or 2 movies that I was really excited to play and see. It was almost like a little family event going to pick out movies/video games and bringing them home for a couple days. I am however a Netflix user now and I suggest that you do the same because it is the best. I instantly have thousands of shows and movies streaming to me through my Xbox 360 sorted into different categories. Just like you said all you have to do now is turn on a console or click some buttons on the internet instead of having to drive to the store, drive back, and worry about late fees and losing the movies or games. When I stream it through my Xbox I don’t have to worry about losing something or any late fees. I am going to miss the video stores because they will surely go out of business sometime in the near future I believe, but I think Netflix is just awesome