As if there wasn’t enough blood in the water already, Blockbuster has released its numbers for the crucial fourth quarter of last year. The results are disastrous, as anticipated. During the 2009 holiday season Blockbuster posted a quarterly net loss of nearly $435 million, compared with a net loss of nearly $360 million during the same period the previous year.
BB CEO Jim Keyes blamed his company’s woes at least in part on cheap new release DVDs sold at retailers and the workaround program of a certain kiosk vendor that uses red boxes.
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Said Keyes:
“In spite of the [new release delay] windows … our DVD-based competitors were successful in their ability to buy around the 30-day window restrictions by purchasing diverted product from competing retailers . . . This affected rentals in our stores.
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”
Keyes, while trying to do damage control, also hinted at more store closures if the rest of Hollywood doesn’t follow Warner’s lead when it comes to delaying new releases to Redbox and Netflix. Said Keyes:
“If the studios don’t go that direction … then you probably need fewer stores to be able to satisfy that demand,”
On the other hand, Keyes said, if a unified retail-only window is established by every studio, Blockbuster’s core brick-and-mortar business could remain afloat. According to Keyes:
“If that happened, you would want to keep more store[s] in operation, to enhance [our] consumer relevance . . . [A retail window] would more clearly define the use occasions for those channels.”
How much longer can this last, Insiders? Can Keyes’ dream of a universal Hollywood delay window come true in time to save Blockbuster? Will spinning off assets or pushing into the mobile sphere bootstrap BB into financial solvency?
(via Home Media Magazine)
and now we wait until BB closes. I think even with Redbox and Netflix’s delay, Blockbuster will still be screwed over
Said Keyes:
“In spite of the [new release delay] windows … our DVD-based competitors were successful in their ability to buy around the 30-day window restrictions by purchasing diverted product from competing retailers . . . This affected rentals in our stores”
BB rents right now The Box, The Informant, and The Vampire’s Assistant. None of these movies are even available at Red box. Don’t go blaming poor performance by your company because of management decisions. Red box and Netflix is doing to BB exactly what they did to the Mom and Pop video stores when they arrived.
So they are asking the studios to help them out by delaying the Redbox? I still say it’s unfair competition and Redbox should sue and stop making agreements with the conspirators.
Just to let others know, I wasted my time and tried all these codes at a Smiths, Walmart and Albertsons, none are working and they should be removed.
RBX2NITE
ACME25
DLLNS32
“The” is right…I see this whole “Redbox delay window” as a way to save Blockbuster’s ass. If BB is still around in a year or two i’ll be completely shocked. I also wondered why Redbox didn’t try to say that these delay windows were unfair competition, which they are. What’s good for the goose is good for the gander. If RB has to have a 30-day window, then so should Bankruptbuster.
As a former BB employee… this was a long time coming. Honestly… $5 rentals? Instead of trying to bully movie studios, maybe Jim Keyes should focus on how to bring down rental prices… that’s the only thing that might save them. I was a loyal Blockbuster employee… and now… I love redbox and netflix! There is no competition with the prices… I don’t care about a 30-day hold… (which is horrible what can Blockbuster offer the movie companies??!! Get off the boat guys… it’s sinking!)
blockbuster will never get it they are screwing themselves over,they are to expensive and i will never return.
The company just reported a $65 million loss for Q1 2010, a sign that improvement is nowhere to be found in Blockbuster’s future.