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Embattled rental giant Blockbuster plans to close up to 960 stores, or about 20% of its locations, by the end of next year. The decision was made after a company-wide analysis found that 18 percent of Blockbuster’s stores fail to turn a profit.

This is both good and bad news for Redbox. While hundreds of brick-and-mortar Blockbuster stores will be closing over the next twelve months, the company’s plans for a major expansion of their kiosk business remain in place. By the middle of 2010, Blockbuster plans to have 10,000 kiosks in place, outnumbering traditional stores for the first time.

With fewer retail locations, but a vastly increased number of  movie distribution points, will Blockbuster be getting more of your video rental dollars in the coming year?

[Via CNET]

13 Responses to “Blockbuster to Close Nearly 20% of Store Locations”

  1. Member [Join Now]
    moviecrazy

    “The Devil” will get NONE of my money! I’ve always hated Blockbuster because of their insatiable greed and I don’t plan on showing them any love now. In fact it would tickle me pink if they went out of business altogether!

  2. Visitor [Join Now]
    rb [visitor]

    Depends of the price BB decides to charge for rentals at it’s kiosks and how convenient/number of kiosk locations. If BB can have a similiar kiosk business model as Redbox, then it should do well. Price and convenience will drive the market.

  3. Visitor [Join Now]
    slidecage [visitor]

    worker at a bb over the weekend said that all stores may be closed by 2011 winter 2010 is when the choice to keep stores open or close them all..

  4. Visitor [Join Now]
    JJJ [visitor]

    Speaking about profit, this is the second time I’ve gotten the message “box full” when trying to return a movie. I’ve never gotten that message until just recently.

    Since the movies suck lately, maybe people aren’t renting as much.

  5. Member [Join Now]
    jrsfc

    Yeah, I HATE BLOCKBUSTER!!!!!!!!!!!!!!!!! I HOPE REDBOX CONTINUES AND BB FADES AWAY! CUSTOMER SERVICE SUCKS AND HALF OF THE EMPLOYEES HERE IN MARYLAND ARE RUDE!

  6. Visitor [Join Now]
    Carson [visitor]

    I’ll use BB kiosks if they give out free promo codes…or if they are cheaper than Redbox.

  7. Member [Join Now]
    ChadCronin [chadcronin]

    I don’t give my money to companies who want to filter my content (I don’t need R rated versions of NC-17 movies!) and make me wait longer, no thanks!

  8. Member [Join Now]
    alans613

    One of the longtime BB stores here in Springfield, OH has started its “Store Closing” sale. I was shocked it took them this long to close one of the two locations we have here in town. $5 for a new release is what got them in this position to start with!

  9. Member [Join Now]
    captmovie

    We are partial to the big Redbox now. Have to see what if anything BB offers over Redbox. Who knows could end up renting from both!

  10. Member [Join Now]
    Bikemiles [bikemiles]

    Man Stabbed Self To Keep Job

    Torn uniform pants led Blockbuster worker to hatch bizarre plan

    http://www.thesmokinggun.com/archive/years/2009/1103091stab1.html