Best Selling HDTVs

November 2, 2007

Blockbuster Closing Up Shop In The Near Future?

planHeaderExchange.gif

It looks as if Blockbuster will soon be going under. After the company's third quarter results were released Thursday which revealed a 5.7% revenue loss and a net loss of $35 million, Blockbuster chairman conceded that the battle with Netflix is over. He feels that the huge focus on competing with online vendor Netflix did more damage than good and rather than focus on Total Access membership which includes their online distribution service, the company would focus once again at total memberships.

This basically means that sooner or later, barring something drastic, the movie retailer will go under. There is no reason for consumers to flock back to brick-and-mortar stores with the ease of Netflix accessable from their homes and with Blockbuster closing down 526 stores in the past year and layoffs coming up to offset $45 million overhead costs, the proof seems to be staring us right in the face.

Via The Digital Home

Read More in: General News

Share this Article with others: social bookmarking

Related Articles:

Came straight to this page? Visit TV Snob for all the latest news.

Posted by Justin Davey at November 2, 2007 6:23 PM

Recent Comments
Post a comment









Remember personal info?




Please enter the letter "k" in the field below:
Please press Post only once. Submission of comments takes up to 20 seconds because of Spam Filtering.
Steals & Deals
See all of the TV Snob Steals and Deals

Join the Mailing List Mailing List
Enter your Email


Powered by FeedBlitz
Subscribe - RSS

facebook_badge.jpg twitter_badge.jpg

Site Navigation

Visit our other properties at Blogpire.com!

Archives

TechPiree

This weblog is licensed under a Creative Commons License.

Powered by
Movable Type 6.3.6
All items Copyright © 1999-2017 Blogpire Productions. Please read our Disclaimer and Privacy Policy