Say Goodbye to Blockbuster
Essay specific features
December 21, 2013
No of pages / words:
2 / 503
Rating of current essay:
For years, it was hated by those people who saw it as a monolithic organization that enjoyed charging exorbitant late fees and had little or no care of what the customers wanted most. So when Netflix offered an entirely new service, the dynamics of the industry was inexorably changed, and Blockbuster was left playing catch up...
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Worse, it has closed 526 stores in the past year, and the number of employees will be reduced to offset high overhead costs to the tune of $45 million. Blockbuster's injured stock price continues to fall and was priced at $5.06 at Thursday's close.
But if that's not enough to signal defeat, Blockbuster Chairman Jim Keyes admitted that his company's focus on Netflix was damaging and has decided to pull the plug on his demand for higher Total Access membership...
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