It looks like we are getting really close to an end in this dark chapter of Blockbuster’s history. Sources have told the Wall Street Journal that the bankruptcy filing could happen as early as today, and likely by Friday.
Plans including shuttering another 500-800 stores, on top of the 900-1000 stores already slated for closure. This will considerably lighten their financial strain, and give them an opportunity to focus on their digital distribution plans, competing with behemoth Netflix, and soon, Redbox.
We have witnessed a lot of changes in the movie industry over the past few years, with this latest casualty coming (mainly) as a result of Redbox’s strong performance in the DVD sector, and the continued dominance of Netflix in both DVDs and digital distribution.
The question remains: Can Blockbuster come out of this a stronger company and survive for many more years? Will they be a major target for acquisition by another company (Comcast?)? Or, will they just wither away and die, being remembered by some as a major stepping-stone in entertainment, and by others as a company who will not be missed due to bad experiences, late fees, etc…?
I personally believe – even with a lot of damage in recent years – that the Blockbuster brand is still just too valuable to disappear entirely. An acquisition is likely, I think, and that will keep Blockbuster’s name living on for awhile to come.
What are you thoughts? Is is good riddance, or fond memories? What do you think the future of Blockbuster will be? Let us know in the comments…