Yahoo!Finance has got an interesting article on Blockbuster video, and the trouble they’ve been going through, with increased and varied competition, plus the economy. The money guys at Blockbuster expected to close about 400 stores this year — but this was recently revised to somewhere up to 900 stores. They’re estimating that 18% of their brick and mortar establishments are not profitable, and they want to cut losses.
It’s going to be interesting to see what the former king of video rental is going to do now that they’re behind the curve. Netflix has got the mail-rental market pretty sewn up, and is continuing to grow it’s streaming video service, while Redbox is making a niche for itself in a supermarket near you. Your move, Blockbuster.
Click Here to go to Yahoo!Finance.
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