Blockbuster made it official today, filing its long expected Chapter 11 bankruptcy, with a line of creditors that includes its product suppliers like Fox, Sony, Universal, Warner Bros and Disney. It seems unfathomable that given Blockbuster’s supremacy at one time–think of all the mom and pop video stores that went out of business when Blockbuster set up shop nearby–the corporation could not have been more forward thinking. It could have owned the VOD and rental by mail space dominated by Netflix, and it got its head handed to it by Coinstar’s Redbox, which offered the same DVDs in supermarket kiosks for 25% of the rental prices charged by Blockbuster. Its forays into those areas came too late because they were locked into the brick and mortar game plan. While Carl Icahn is reportedly buying up Blockbuster debt and somebody might take a shot at resurrecting Blockbuster and its $1 billion in assets, it might well be too late to establish itself in VOD and as a buyer of pay TV rights for films, as Netflix is now doing at a fraction of the costs incurred by Blockbuster to maintain its 3000 stores. It’s a cautionary tale about standing pat when the sand is shifting under your feet, and Blockbuster’s woes are similar to those being felt by brick and mortar bookstores like Borders and Barnes & Noble. They’re also hard pressed to compete with web rivals like Amazon, serving up both paper books and e-titles without having to pay rent, the light bill and staff the cash registers.
Blockbuster Bankruptcy Shows Danger of Being Inflexible In Digital Age
What's Hot on Deadline
DGA Awards: Alejandro G. Iñárritu Wins Feature Film Award For 'The Revenant'; HBO Cleans Up With Wins For 'Game Of Thrones', 'Veep' & 'Bessie' - Full List
'Kung Fu Panda 3' Does Touchdown Dance With $21M As Super Bowl Weekend Slaughters 'Zombies', 'Choice': Sunday B.O.
DGA Awards: Inarritu's Big Win Gives Momentum To 'Revenant' But Keeps Best Picture Race In The Undecided Column
Latest TV News
- Megyn Kelly Tells Stephen Colbert She Wants To Start Next GOP Debate With “Apology Accepted”
- Will Ferrell Brings Exotic Animals To Stephen Colbert’s Post-Super Bowl ‘Late Show’
- President Obama, Scott Kelly, Chewbacca Help Stephen Colbert Open First Live ‘Late Show’ Post-Super Bowl
- Peter Farrelly Directs CBS All Access Super Bowl Promo
- Jazzed Coldplay, Bruno Mars & Beyonce Harmonize At Super Bowl 50 Halftime Show – Review
- ‘The Good Wife’ To End This Spring After Seven Seasons