In a projection straight from Wall Street, we hear that this movie renting giant on local main street is headed to the unemployment line. Sadly enough, this comes as no surprise after their 65 million dollar loss, last quarter. Going the way of it’s competition, Movie Gallery, Blockbuster has suffered greatly from video on demand, Netflix and Redbox Rentals. One thing you can count on in America is that we are creatures of convenience. And driving to the rental store and walking the aisles just doesn’t cut it in our fast paced, instant gratification lifestyles.
With the recent purchase of Movielinks, Blockbuster has secured a niche in the onlline movie download business, however, it may be too little too late. There is hope for them in the vending kiosk route also, but Wall Street assures us that their physical stores will soon be a thing of the past.
Blockbuster has enjoyed nearly 20 years of huge success and it is a shame that the company could not compete in the field of their expertise. Anyways, Blockbuster is considering another American Pastime(thank you, wall street), filing Chapter 11. At least they can look at it this way, it’s the end of late fees.
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