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Thread: Blockbuster appears poised for mid-September bankruptcy filing

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    Blockbuster appears poised for mid-September bankruptcy filing

    September could be the month Blockbuster Inc. finds its way to bankruptcy court.

    The Dallas-based company has been warning for almost two years that it might need bankruptcy court protection to reorganize its nearly $1 billion in debt, as it struggles with dwindling cash and a shrinking business hurt by competition and its own store closings.

    Link Here

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    Is anyone really surprised? The competition outclassed them. They have (at least since the emergence of NetFlix) based their business model on customers that have waited several months to see a movie paying extra and going out of their way (TWICE!) to see a movie 28 days before it hits anywhere else. Hello they have already waited what's another 28 days?
    Blockbuster has made themselves the choice for casual movie watchers that may not watch more than two movies in a month. Not a good customer base for a movie rental company


    Not to mention in my experience they have always f***ed their customers over.

    I originally used Blockbuster's by mail service. I could take the movies from the mail and trade them in the store for new ones and the ones in my queue were sent. UNLIMITED. They changed that to only 1 in store trade in.

    They are higher than EVERYBODY else.

    and if I have been your customer for 12 years and never stolen your movies, do you really need my credit card on file?

    I will check and see if they have any deals on previewed movies though!
    Last edited by Phoenix; 08-30-10 at 01:00 AM.
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    Re: Blockbuster appears poised for mid-September bankruptcy filing

    I love Netflix. I did try Blockbuster and was not impressed (by comparison).

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    Re: Blockbuster appears poised for mid-September bankruptcy filing

    Technology has moved beyond brick-and-mortar rental; this was inevitable.

    Of course, piracy helped speed it along, so those of you who think it doesn't hurt anyone . . .
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    Re: Blockbuster appears poised for mid-September bankruptcy filing

    Quote Originally Posted by Harshaw View Post
    Technology has moved beyond brick-and-mortar rental; this was inevitable.

    Of course, piracy helped speed it along, so those of you who think it doesn't hurt anyone . . .
    So shouldn't Netflix be hurting as well?

    I'm against piracy, just not sure your thought fits the scenario.

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    Re: Blockbuster appears poised for mid-September bankruptcy filing

    The reason why I stopped going to Blockbuster - well, aside from the fact that I download all my movies - is that they have their own censorship policy that they apply to films. I noticed this when I rented movies I had already seen from their store. I looked online and sure enough... they do their own editing.

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    Re: Blockbuster appears poised for mid-September bankruptcy filing

    Quote Originally Posted by BDBoop View Post
    So shouldn't Netflix be hurting as well?

    I'm against piracy, just not sure your thought fits the scenario.
    I think Blockbuster's significantly higher base costs mean that it needs to do a fair amount of business at each store in order to turn a profit. If movie rentals dropped by 20%, that could make every store unprofitable, while a 20% drop in rentals might merely reduce netflix's profit margin.
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    Re: Blockbuster appears poised for mid-September bankruptcy filing

    I'm not surprised either. I stopped renting, and buying for the most part, movies the moment I got Netflix. I tried Redbox and it is also a suitable substitute for renting from a store or buying a movie. If I only need a movie for one night, why the hell should I pay for 5-7 days?? Blockbuster is dying because they failed to recognize the direction of the tides of the movie rental business. If they really want to catch up they need to pour money into the mailing and the instant streaming market and close all of their stores. I have my doubts that an unlimited instant streaming business of any and all rentable movies would be profitable... But man would I love it!
    "There is nothing which I dread so much as a division of the republic into two great parties, each arranged under its leader, and concerting measures in opposition to each other. This, in my humble apprehension, it to be dreaded as the greatest political evil under our Constitution." —John Adams

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    Re: Blockbuster appears poised for mid-September bankruptcy filing

    Driving to the store and spending many minutes debating on what to rent is such a waste of time and exerted movement when I can sit on my couch and choose a movie online from netflix and have it mailed to me. Still I have to walk to my mailbox which is just the right amount of walking.

    In all seriousness though Netflix is awesome.
    I use a lot of satire and sarcasm so keep that in mind when reading my posts.

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    Re: Blockbuster appears poised for mid-September bankruptcy filing

    Google Reed Hastings, founder of Netflix. Interesting read. In January 2009, he had this to say about BB:

    Never underestimate the competition: We erroneously concluded that Blockbuster (BBI, Fortune 500) probably wasn't going to launch a competitive effort when they hadn't by 2003. Then, in 2004, they did. We thought, Well, they won't put much money behind it. Over the past four years they've invested more than $500 million against us.

    Read more: http://www.businessinsider.com/2009/...#ixzz0y3p0IvRc
    Last edited by BDBoop; 08-30-10 at 01:34 AM.

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    Re: Blockbuster appears poised for mid-September bankruptcy filing

    The internet has and will continue to kill business. When a good or service can be digitally transfered automatically through a wire with no human assistance, jobs are lost.
    I have come to believe that the whole world is an enigma, a harmless enigma that is made terrible by our own mad attempt to interpret it as though it had an underlying truth.

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