Video giant Blockbuster can’t get any money to save itself from bankruptcy. Thanks to years of heavy fighting with Netflix, the company has essentially spent itself into the ground and, thanks to the credit crunch, is looking at closing its doors.
Netflix, if you’ll remember, has no overhead. They buy disks, ship them, and wait for them to come back. Add in streaming and the company could basically have no costs except for video streaming expenses. Blockbuster, on the other hand, was late to the DVD-rental-by-mail game and its physical stores are shells of their once-mighty selves.
I’ll admit I have a soft spot for the old Blockbuster store in my heart. Making it a Blockbuster night was one of my fondest teenage memories. Unfortunately, things change.