Aug
19
The Death Of Blockbuster
Filed Under Life Happenings | Comments Off
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A couple of months ago, I had walked by Blockbuster at the intersection described in An Accident Waiting To Happen (where the lights changed back in about an hour btw, so no car crash), I happen to look in to see that there were practically no people in there. It was on a major intersection, and there were no customers? Well, I wasn’t too surprised.
I mean, who would want to go all the way to Blockbuster, to probably get a movie on tape? Like, I don’t even have a VCR anymore. Also, with services out there like netflix, where they’ll ship it to your door in a day or two for about the same price, who would want to leave home? Unless the guy really wants to see his movie right now, there’s really no reason to go to a physical store. That, plus there’s thousands of bittorrent sites out there serving illegal movies that many people use. Why bother getting up?
That is why I wasn’t the least bit suprised when I looked over today to see a big empty room where the Blockbuster used to be. Finally! They got their butts out of there. My next thought was that the stock must have dropped quite a bit by now, unless they’re launching some big plans to compete with Netflix and this was just their consolidation move. Even if that was the case though, there would still be costs involved. Indeed, my suspcions were justifed when I went home today: http://finance.yahoo.com/q/bc?s=BBI&t=6m. There we go, Blockbuster, dying as it should.
With no tangible assets (in fact it’s negative) on their balance sheet, Blockbuster’s entire value is its brand name. They’d better find a related niche of some sort, as the service they’ve so skillfully provided up until now has become basically obsolete.
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