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Blockbuster Loses $558 Million

Posted Thursday, February 25, 2010 in Retail Stores/Products
by Elaine Roxane Winter

Blockbuster has seen brighter days. After disappointing holiday sales and heavy competition, the movie company reported a net loss of $558.2 million for fiscal 2009, according to the Dallas Business Journal.

The CEO of Blockbuster said in a statement that “the next 12 to 18 months will remain challenging as we balance the secular decline of a single channel with the ascension of emerging channels.”

The loss is just another sign that the company is struggling against emerging media trends and competition like Netflix, Hulu and iTunes.

What do you think...will the 'video store' survive?

Read more at the Dallas Business Journal.

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Comments

What Redbox, Netflix, and the other companies competeing right now are doing is offering conveience. Blockbuster should introduce renting options. Such as 1 day rental for $1, 2 day rental for $2, etc. At the same time introduce a HAPPY HOUR rental time, like from 5-9 on Fri and Sat. 2 for 1 rentals. Rent 1 movie and get the other rental for free. MAKE MOVIE RENTAL FUN AGAIN!!!!
Comment By Matt Crane At 5/24/2010 4:02 PM
With the introduction of 'Red BOX', its easier and cheaper then Blockbuster. You rent a video for 1 night and its $1.07. If you keep it past 7 the next night, they just charge you an other $1.07. I usually only have a movie for one night so its much cheaper for me. I agree, maybe they should have a 99 cent movie night.
Comment By Brenda At 2/26/2010 7:20 AM
What the company needs to do is reduce the price of their rentals. At almost $5 each (my local Blockbuster) its a ripoff. If you look at Netflix, you can have a whole month for that, depending on what you do for your subscription. My thoughts are lower the price, have more specials (like .99c Tuesdays etc) and you'll see more revenue come in. Volume speaks numbers when it comes to rentals; high prices don't.
Comment By Craig N. Heon At 2/25/2010 11:54 AM

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