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Blockbuster's $980 million voluntary Chapter 11 bankruptcy filing Thursday marks the end of a very rough road for the video rental company. At some level, Blockbuster's demise was caused by the ...
A third of Blockbuster’s $1 billion debt was due to be refinanced in 2009, and Moody’s warned that the company may be unable to refinance its debt. “The probability to fail just was a killer ...
A box-office bomb [a] is a film that is unprofitable or considered highly unsuccessful during its theatrical run. Although any film for which the combined production budget, marketing, and distribution costs exceed the revenue after release has technically "bombed", the term is more frequently used for major studio releases that were highly anticipated, extensively marketed, and expensive to ...
The COVID-19 pandemic, starting around March 2020, caused temporary closure of movie theatres, and distributors moved several films to premier to streaming services such as HBO Max, Disney+, and Peacock with little to no box-office takes. While these films may have had successful runs on these services, the viewership or revenue from these ...
The video-rental-as-a-service model was born. For $15.95 a month, you could fire Blockbuster , though the corner video store would still have a place for years.
On February 10, 2010, Blockbuster announced that it would cease all its operations in Portugal, closing down 17 outlets and leaving over 100 workers unemployed. Blockbuster representatives in Portugal blamed internet piracy and the lack of government response to it as the key factors to the company's failure in the country. [82]
An example of an industry that suffered from marketing myopia is the video rental industry, which was dominated by Blockbuster LLC, an American company, in the early 2000s. Blockbuster failed to adapt to the emergence and popularity of online streaming services, such as Netflix and filed for bankruptcy in 2009. [8]
You see, back when I was a child, our community had a couple of thriving local video stores that were the source of pretty much endless enjoyment for me. Then Blockbuster came along.