Blockbuster Is Closing Its Remaining StoresBy: Tobias Roth - November 6, 2013
Blockbuster’s closing certainly does not come as too huge of a surprise to most people. The whole idea of a video rental store has almost been a thing of the past for several years now, as people continue to use sources such as Netflix or Redbox to watch movies. Several Blockbuster stores were already closed a few years ago throughout the country, but now the Blockbuster business will soon be nonexistent.
Plenty of people have also illegally downloaded films and television shows online, or found other ways to watch them online, without having to drive to the rental store to find them. The store will end all domestic retail activity in addition to its distribution by mail. Blockbuster offers a monthly plan to its customers, allowing them to check out as many movies or videogames that they want throughout a month for a fixed price, which was raised recently due to their drop in business.
Blockbuster just got MySpaced.
— Josh Hara (@yoyoha) November 6, 2013
With Blockbuster out of business can I just keep my VHS of “Blame it on Rio” that was 28 years overdue?
— David Wain (@davidwain) November 6, 2013
With all of the different ways to watch movies and TV on the internet, in addition to VOD and other services, the business of Blockbuster has continued to struggle, and was down to its last 300 stores in the country. Today, it was announced that they would be closing those remaining stores by the video rental store’s parent company, Dish network. Dish acquired Blockbuster in a business deal that happened through a bankruptcy auction in 2011.
The change will happen by early 2014. However, even after the remaining stores are closed, there will still be a handful left, due to the fact that roughly 50 Blockbuster locations in the United States are owned by third-party franchisees, which are not affected by Dish’s decision.
The fact that within a few months there will officially be no more Blockbuster<<<<< #sadday
— Beth (@bethyP00) November 7, 2013
RIP Blockbuster. We had some good VHS times.
— Steve Teeri (@telephase) November 7, 2013
RIP BLOCKBUSTER, you will be missed. Many enjoyable hrs were spent combing your aisles for my next adventure #Nostalgia
— Howell (@cg_howell) November 7, 2013
While the physical stores are closing, Blockbuster’s business is simply wanting to lean toward the digital side, which they have already had some experience with. As video once killed the radio star, internet has now killed the video store. Joseph P. Clatyon, said of the change, “Despite our closing of the physical distribution elements of the business, we continue to see value in the Blockbuster brand, and we expect to leverage that brand as we continue to expand our digital offerings.”
Sad to hear Blockbuster Video closed its stores nationwide today. Pretty sure we financed a few of them in the 1990s just on our late fees.
— Scott Puryear (@scottpuryear) November 7, 2013
Blockbuster’s closing of its remaining stores is a decision that many people saw coming for a long time, and it was only a matter of time before all of the stores were completely shut down, and out of business. The decision is also likely to not have an effect on much of the population, since most people have already turned to Netflix or other sources on the internet.