The well known movie rental company, Blockbuster, is said to maybe become bankrupt because the company is not generating enough profit. This Dallas based company is loosing the race for movie goers to companies such as Itunes movies, TiVo, Netflix and Redbox.
Ever since I was little, Blockbuster was THE place my family and friends went to rent movies. Now, with more competitors in the picture it will be harder for Blockbuster to stay afloat.
The article stated the Blockbuster reported a loss (last quarter) of $359.8 million on revenue of $1.38 billion. This all compared with net income of $1 million on revenue of $1.57 billion a year earlier.
I think more out dated companies will be replaced with newer technology. I think there will be even better technology to come and more things will be replaced by newer innoventions.
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1 comment:
That's a shame, I still enjoy goin to blockbuster, but I guess with all the new technology like netflix, it's getting harder to stay afloat.
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