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Author Topic: Blockbuster says it will close as many as 960 stores in 20-percent reduction  (Read 1483 times)

Dos Equis

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Blockbuster says it will close as many as 960 stores in 20-percent reduction
« on: September 15, 2009, 12:59:20 PM »
The recession affecting Blockbuster?  Who knew?  Or maybe it's just Netflix competition? 

Blockbuster says it will close as many as 960 stores in 20-percent reduction
Associated Press

DALLAS — Blockbuster is planning to close as many as 960 stores by the end of next year. That would shrink the video rental chain by more than 20 percent as it struggles against stiff competition from Netflix and Redbox.

The store closures disclosed in documents filed today shows Blockbuster is having to cut much deeper than it anticipated to save money and keep its lenders happy.

Blockbuster now expects to close between 810 and 960 of its U.S. stores through 2010, up from its the 380 to 425 stores that normally would be closed. If Blockbuster hits the high end of the new target for store closures, it will represent 22 percent of its 4,356 U.S. stores.

The Dallas-based company has closed 276 stores so far this year.

http://www.honoluluadvertiser.com/article/20090915/BREAKING/90915014/Blockbuster+says+it+will+close+as+many+as+960+stores+in+20-percent+reduction
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BM OUT

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Re: Blockbuster says it will close as many as 960 stores in 20-percent reduction
« Reply #1 on: September 15, 2009, 01:03:40 PM »
I dont see how they stay in buisiness with all the movie networks allowing for rentals,online rentals etc. Im amazed they can stay in buisiness.
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Dos Equis

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Re: Blockbuster says it will close as many as 960 stores in 20-percent reduction
« Reply #2 on: September 15, 2009, 01:10:27 PM »
Quote from: BILLY MIMNAUGH on September 15, 2009, 01:03:40 PM
I dont see how they stay in buisiness with all the movie networks allowing for rentals,online rentals etc. Im amazed they can stay in buisiness.

I didn't realize how easy it is to see movies for free until very recently.

I initially thought they could compete with Netflix, because they offer the same mail order rental service, but allow you to return the movie in the store and exchange it for any movie, free.  That's an advantage over Netflix, but apparently not big enough.   
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Soul Crusher

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Re: Blockbuster says it will close as many as 960 stores in 20-percent reduction
« Reply #3 on: September 15, 2009, 01:10:53 PM »
Quote from: Beach Bum on September 15, 2009, 01:10:27 PM
I didn't realize how easy it is to see movies for free until very recently.

I initially thought they could compete with Netflix, because they offer the same mail order rental service, but allow you to return the movie in the store and exchange it for any movie, free.  That's an advantage over Netflix, but apparently not big enough.   

Think of the hit this will have on Commercial R/E. 
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Dos Equis

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Re: Blockbuster says it will close as many as 960 stores in 20-percent reduction
« Reply #4 on: September 15, 2009, 01:14:30 PM »
Quote from: 333386 on September 15, 2009, 01:10:53 PM
Think of the hit this will have on Commercial R/E. 

Right.  Good point.  I didn't think about that.  There will be a lot of empty commercial space. 
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tu_holmes

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Re: Blockbuster says it will close as many as 960 stores in 20-percent reduction
« Reply #5 on: September 15, 2009, 03:01:59 PM »
Will definitely suck, but I'm not shocked.

Netflix is eating their lunch... The problem is that Netflix started their model and had a huge base before Blockbuster got in on it.

They just waited to long.
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muscleforlife

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Re: Blockbuster says it will close as many as 960 stores in 20-percent reduction
« Reply #6 on: September 15, 2009, 03:37:43 PM »
Quote from: 333386 on September 15, 2009, 01:10:53 PM
Think of the hit this will have on Commercial R/E. 


I agree.  But, this is how capitolism works.  Sometimes corporations expand to quickly, technology comes along and there goes your business.
Sandra
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Hedgehog

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Re: Blockbuster says it will close as many as 960 stores in 20-percent reduction
« Reply #7 on: September 15, 2009, 04:22:46 PM »
IMO Blockbuster is dropping because they've been replaced by new tech. blockbuster is obsolete with stuff like digital TV and faster direct d/l's from the net.
other parts of entertainment biz are booming.
This is just a natural development. but blockbuster is owned by Disney or one of the other big media TNC's.
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headhuntersix

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Re: Blockbuster says it will close as many as 960 stores in 20-percent reduction
« Reply #8 on: September 15, 2009, 04:32:50 PM »
The turn around time on netflix is amazing plus u can get pretty much any movie u can think of. If ur good and watch and return u can bang through atleast 6 movies a week for 17 bucks a month...thats about 4 flicks at blockbuster.
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Skip8282

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Re: Blockbuster says it will close as many as 960 stores in 20-percent reduction
« Reply #9 on: September 15, 2009, 04:50:52 PM »
I stopped going to Blockbuster back when I brought in some VHS tapes and they charged me $2-$3 to rewind the tape. I do feel bad for the employee's though...
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Dos Equis

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Re: Blockbuster says it will close as many as 960 stores in 20-percent reduction
« Reply #10 on: September 15, 2009, 04:53:19 PM »
Quote from: headhuntersix on September 15, 2009, 04:32:50 PM
The turn around time on netflix is amazing plus u can get pretty much any movie u can think of. If ur good and watch and return u can bang through atleast 6 movies a week for 17 bucks a month...thats about 4 flicks at blockbuster.

Blockbuster has the same service.  It's pretty efficient, but I've started watching movies online, so none of those people have been getting my money. 
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Purge_WTF

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Re: Blockbuster says it will close as many as 960 stores in 20-percent reduction
« Reply #11 on: September 15, 2009, 05:27:05 PM »
  I work for Netflix, and I can attest that we're beating Lackluster like a red-headed bastard stepchild.
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grab an umbrella

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Re: Blockbuster says it will close as many as 960 stores in 20-percent reduction
« Reply #12 on: September 15, 2009, 05:49:21 PM »
I have netflix.  Get movie, burn and copy, return and repeat.
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headhuntersix

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Re: Blockbuster says it will close as many as 960 stores in 20-percent reduction
« Reply #13 on: September 15, 2009, 06:36:28 PM »
I've become a torrent machine over the last 2 months..I'm storng up for deployment. Ive got so much crap there won't be a hole deep enough for the feds to dump me in. Fuck hollywood.  ;D

Purge Netflix does an excellant job....great service.
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grab an umbrella

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Re: Blockbuster says it will close as many as 960 stores in 20-percent reduction
« Reply #14 on: September 15, 2009, 09:02:46 PM »
Hh6 if you're serious about some torrents I can give you an invite to a private HD only tracker.
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tonymctones

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Re: Blockbuster says it will close as many as 960 stores in 20-percent reduction
« Reply #15 on: September 15, 2009, 09:47:24 PM »
ya this has more to do with technology and their not adjusting to it then the economy id say...

netflix, redbox, online sites like hulu etc...have taken a huge part of their market share and they have done very little to try and keep up.

Also when was the last time you saw a blockbuster commercial? what about a net flix commercial?

blockbuster doesnt advertise for crap anymore
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Purge_WTF

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Re: Blockbuster says it will close as many as 960 stores in 20-percent reduction
« Reply #16 on: September 15, 2009, 10:21:17 PM »
Quote from: headhuntersix on September 15, 2009, 06:36:28 PM
I've become a torrent machine over the last 2 months..I'm storng up for deployment. Ive got so much crap there won't be a hole deep enough for the feds to dump me in. Fuck hollywood.  ;D

Purge Netflix does an excellant job....great service.

  Yeah, Lackluster was yucking it up over how we were a "hole-in-the-bucket" business. Bet they feel kinda foolish now.

  Pretty fun job, too. Free DVD player, free membership, and I spend most of the time driving around in the company truck blasting my CD's.
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grab an umbrella

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Re: Blockbuster says it will close as many as 960 stores in 20-percent reduction
« Reply #17 on: September 15, 2009, 10:23:49 PM »
Quote from: Purge_WTF on September 15, 2009, 10:21:17 PM
  Yeah, Lackluster was yucking it up over how we were a "hole-in-the-bucket" business. Bet they feel kinda foolish now.

  Pretty fun job, too. Free DVD player, free membership, and I spend most of the time driving around in the company truck blasting my CD's.

Netflix will soon be outdated.  Mark my words.
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MuscleMcMannus

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Re: Blockbuster says it will close as many as 960 stores in 20-percent reduction
« Reply #18 on: September 15, 2009, 10:28:51 PM »
Despite all these online movie companies like Netflix and then $1 rental boxes like Redbox Blockbuster is STILL charing $5 per movie.  Lower your fucking rental price morons to like $2 or $3. 
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tu_holmes

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Re: Blockbuster says it will close as many as 960 stores in 20-percent reduction
« Reply #19 on: September 15, 2009, 10:36:32 PM »
Quote from: grab an umbrella on September 15, 2009, 10:23:49 PM
Netflix will soon be outdated.  Mark my words.

They know the rental market is going downhill.

That's why they too are focusing at the download-able content market.
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grab an umbrella

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Re: Blockbuster says it will close as many as 960 stores in 20-percent reduction
« Reply #20 on: September 15, 2009, 10:44:21 PM »
Quote from: tu_holmes on September 15, 2009, 10:36:32 PM
They know the rental market is going downhill.

That's why they too are focusing at the download-able content market.

Honestly, I will never pay for content on my computer.  It's stupid.
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tu_holmes

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Re: Blockbuster says it will close as many as 960 stores in 20-percent reduction
« Reply #21 on: September 16, 2009, 09:11:15 AM »
Quote from: grab an umbrella on September 15, 2009, 10:44:21 PM
Honestly, I will never pay for content on my computer.  It's stupid.

You are in the minority.

Paying for a high quality fast download is by far more accepted by the online community.
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headhuntersix

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Re: Blockbuster says it will close as many as 960 stores in 20-percent reduction
« Reply #22 on: September 16, 2009, 10:39:08 AM »
Well..when I can almost anything free its hard to pay for it....I'd pay 9 bucks a month to download what I do now.
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grab an umbrella

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Re: Blockbuster says it will close as many as 960 stores in 20-percent reduction
« Reply #23 on: September 16, 2009, 11:48:55 AM »
Quote from: tu_holmes on September 16, 2009, 09:11:15 AM
You are in the minority.

Paying for a high quality fast download is by far more accepted by the online community.

I download as fast as my connection will let me.  The seed/leach ratio on my main site is 8/1. 
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big L dawg

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Re: Blockbuster says it will close as many as 960 stores in 20-percent reduction
« Reply #24 on: September 16, 2009, 12:16:25 PM »
I about shit when I rented two movies at blockbuster for the first time in a year and it came to $10!!!

2 movies for $10?...I remember renting them for 99cents 10 years ago...
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