Bye-bye Blockbuster?Category: General News
Posted: July 13, 2010 04:13AM
Blockbuster is an iconic symbol of home entertainment not only in America, but globally too. Reaching from Brazil to New Zealand the local Blockbuster store has been a mainstay in many communities. Do you have a local Blockbuster store? I'm pretty sure you do, but in New Zealand my local store closed down silently a few years ago. According to Douglas McIntyre from 24/7 Wall St., this fate may meet Blockbuster's American retail operations as soon as next year. McIntyre included Blockbuster on his list of the "10 Brands That May Disappear in 2011." We all know that Blockbuster is far from its days of former glory, with the humble physical rental store quickly being replaced by cable, satellite, the internet and mail order DVDs. Blockbuster has over 6000 retail stores, of which 3,750 are in the United States. The closure of all these stores may sound drastic, but competitor Movie Gallery is closing more than 1200 of its U.S retail outlets. With a US$65 million loss last quarter, the future of Blockbuster is not clear but what is certain is that retail stores, the heart of the business will never be the same again.