Blockbuster: Movie And Video Game Superstore
Blockbuster went out of Business
Blockbuster, the movie and video game superstore, has come to a close. It was established on October 19, 1985. In the beginning of this company's journey, it reached a total of over 8,000 stores and almost 60,000 employees. The company was very popular, considering the low priced rentals or easy deliveries through the mail. However, over the years, there has been many obstacles standing in Blockbuster's way that eventually ran them out of business due to bankruptcy. Blockbuster began to close certain stores in 2013, but officially closed its doors in early January of 2014. One of the many problems that Blockbuster has faced was the newly founded company at the time, Netflix. Blockbuster had been already …show more content…
The reason why people preferred Redbox instead of blockbuster was that it was more convenient. People could be at the grocery store and want a movie or video game in the spur of the moment. In that way, they have the opportunity of picking up a movie or game on the go, instead of traveling to another location. In other words, because people are very busy and always on the move, they can see what is for sale because everything is displayed right before their eyes. The overall status of Redbox was that, "...Redbox already has 24,000 video kiosks, more than three times the amount Blockbuster has, at supermarkets and other stores, dispensing DVDs at $1 per rental". The last reason towards the closing of Blockbuster was the location of the store itself. Blockbuster was not placed in parts of towns or cities that caught customer's attention. They were usually sandwiched between other businesses or hidden in corners. It was stated that, "The model was also simple/Blockbuster was reimagined as a convenience store". This affected the coming of customers because there was nothing from the store that drew people in. In this case, people would only visit a Blockbuster store if …show more content…
Since they did not make the offer, Netflix left making billions while Blockbuster turned out not so lucky. The comparison between the two is very simple. Netflix is, "Watched more than any cable network/Accounts for nearly 1/3rd of internet traffic" and has a $20 billion value. As for Blockbuster, its considered "peak" was when it had 9,000 stores, 60,000 employees, and its $8 billion dollar value. Clearly there is a huge gap between the two companies and their statistics. If I were the one making the decision, I would have agreed to partner with Netflix. I believe that having a business is all about taking risks, and if you are not taking that extra step then there is no point in trying to compete with other companies to be the best in the market. Ultimately, Blockbuster had multiple chances to get their company back together. Over the years, their business has been skating on very thin ice. It could be very possible that the creators lacked motivation and already have seen the end to their company. Or it could have been their employees who lacked enthusiasm for their customers and a strive for achievement in the company. It is also plausible that it was
Blockbuster, the movie and video game superstore, has come to a close. It was established on October 19, 1985. In the beginning of this company's journey, it reached a total of over 8,000 stores and almost 60,000 employees. The company was very popular, considering the low priced rentals or easy deliveries through the mail. However, over the years, there has been many obstacles standing in Blockbuster's way that eventually ran them out of business due to bankruptcy. Blockbuster began to close certain stores in 2013, but officially closed its doors in early January of 2014. One of the many problems that Blockbuster has faced was the newly founded company at the time, Netflix. Blockbuster had been already …show more content…
The reason why people preferred Redbox instead of blockbuster was that it was more convenient. People could be at the grocery store and want a movie or video game in the spur of the moment. In that way, they have the opportunity of picking up a movie or game on the go, instead of traveling to another location. In other words, because people are very busy and always on the move, they can see what is for sale because everything is displayed right before their eyes. The overall status of Redbox was that, "...Redbox already has 24,000 video kiosks, more than three times the amount Blockbuster has, at supermarkets and other stores, dispensing DVDs at $1 per rental". The last reason towards the closing of Blockbuster was the location of the store itself. Blockbuster was not placed in parts of towns or cities that caught customer's attention. They were usually sandwiched between other businesses or hidden in corners. It was stated that, "The model was also simple/Blockbuster was reimagined as a convenience store". This affected the coming of customers because there was nothing from the store that drew people in. In this case, people would only visit a Blockbuster store if …show more content…
Since they did not make the offer, Netflix left making billions while Blockbuster turned out not so lucky. The comparison between the two is very simple. Netflix is, "Watched more than any cable network/Accounts for nearly 1/3rd of internet traffic" and has a $20 billion value. As for Blockbuster, its considered "peak" was when it had 9,000 stores, 60,000 employees, and its $8 billion dollar value. Clearly there is a huge gap between the two companies and their statistics. If I were the one making the decision, I would have agreed to partner with Netflix. I believe that having a business is all about taking risks, and if you are not taking that extra step then there is no point in trying to compete with other companies to be the best in the market. Ultimately, Blockbuster had multiple chances to get their company back together. Over the years, their business has been skating on very thin ice. It could be very possible that the creators lacked motivation and already have seen the end to their company. Or it could have been their employees who lacked enthusiasm for their customers and a strive for achievement in the company. It is also plausible that it was