The movie rental store Blockbuster is fighting competition and financial losses with new technologies. Blockbuster is battling against Netflix and other competitors by allowing customers to have movies mailed to their homes if the desired film cannot be found in the store. Blockbuster is also incorporating DVD rental kiosks, streaming videos over the Internet and memory cards that hold downloaded movies to increase sales.
Blockbuster is scheduled to report 2009 financial results in February and expects a net loss for the year of as much as $193 million. Several top executives were recently laid off. In comparison, Netflix added more than a million customers in the fourth quarter and reported a profit of $116 million for 2009.
Click here to read more about how Blockbuster is attempting to increase its name and business.
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3 comments:
I was one of those new Netflix customers! The streaming rocks hard core.
As a college student, I feel that Redbox is taking over the world. Blockbuster better do something quick to win me back. I haven't gone to blockbuster since high school.
Agreed, new rental outlets like netflix and redbox just makes the whole thing so much more convenient than remembering due dates and dealing with late fees. I have never rented from a store like blockbuster because of having to deal with giving them so much of my information. Too much of a hassle with easier alternatives.
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