Blockbuster the once popular video rental chain is putting the last nail in their coffin. The company has seen a steady decline in business over the last 5 years and has not been able to compete with other video services such as RedBox or Netflix. Blockbuster's mail services and streaming services simply were not able to compete.
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| Blockbuster shuts down |
Blockbuster announced that they will be stopping all retail and mail order services next January. Blockbuster was bough by Dick networks in 2010 after going bankrupt. This purchase included roughly 300 locations both domestic and internationally. This shutdown will result in the termination of around 3000 jobs.
The Blockbuster streaming services will continue moving forward. Dish says the Blockbuster franchise will stay open and that they will retain all licensing agreements with Blockbuster. For Dish users this included 15 movie channels with thousands of movies.
With old relics like Blockbuster finally disappearing it makes me wonder what will happen the the video world next. How will we see Netflix and Amazon grow in the next 10 years.
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