VBG President Ted Engen
Long a vicious opponent of Redbox and its ilk, it seems the Video Buyers Group (VBG) is feeling the pain of the widespread decline of the traditional video store. The VBG has canceled its upcoming annual confab, blaming a tough economy, rising travel costs and “everything” that is occurring in the video industry.
VBC president Ted Engen gave the following explanation for the event’s cancellation—the first in its 25-year history—in an email to members:
“This was not an easy decision to make, especially when one factors in the success and support from retailers, vendors and studios that we’ve had for this event over the years . . . However, with everything that is occurring in the video industry, along with a struggling economy, tight budgets and the escalating cost of travel, we feel postponing this year’s event is the right decision.”
In an interview with Home Media Magazine after last year’s VBG trade show, Engen said the following about the state of the industry:
“I wouldn’t change anything [about the home entertainment industry]. All industries, including the video industry, are in a constant state of evolution. Basic economic forces are always creating opportunities that cause many to reinvent themselves. Nobody does this better than independent retailers.”
Is this event cancellation just a side effect of temporary tough times, or is this yet another indication of the crumbling foundation of the brick-and-mortar video store model? What do you think VBG members and other independent video stores are going to do to “reinvent” themselves?
(via Home Media Magazine)
Is this event cancellation just a side effect of temporary tough times, or is this yet another indication of the crumbling foundation of the brick-and-mortar video store model?
-…another indication of the crumbling foundation of the brick-and-mortar video store model.
What do you think VBG members and other independent video stores are going to do to “reinvent” themselves?
-Retailing is retailing isn’t it? Move on Luddites. Try some other products or services.
Their problem is, they are running out of people to represent at their event. Mom and pop stores, along with Hollywood Video are all pretty much gone. Blockbuster has closed 1/3 of their stores, with another 190 stores closing by tomorrow. Maybe this video group needs to become a plywood dealer and hold events showing how to shutter up your video store.
Sorry John Small. Despite all your heaping piles of bullsh*t I still wouldn’t root for the trade show to shut down.
Store economics are just too tough at this point. Crumbling foundation.
FYI. Family Video added 1000 jobs in 2010 while opening 125 NEW stores. Still expanding in 2011……Somebody is making some money !!!
@Video Store Owner
“FYI. Family Video added 1000 jobs in 2010 while opening 125 NEW stores. Still expanding in 2011……Somebody is making some money !!!”
There must be lots of perverts out there!
Is it still true that @ Family Video, if you rent a XXX title, the renter gets a FREE DVD for their kids? What a bargain? Maybe its the MANSON Family… Family Video is hoping to attract.
There are no Family Video B&M shops within a 25 mile commuting distance of the 90210 zip code. I only wish [SIC] Family Video would build out to this area. ;)
Family Video is a real estate company and since you’re clearly a FV plant here, you know that. The stores will still have viability in a lot of places, nothing wrong with arguing that, but spouting about your own company is gonna keep people from respecting your opinion on the rental industry
By the way Family Video has recently begun renting OLD MOVIE GALLERY locations……….guess they all don’t lose money, huh.
Question: why do soo many people have such anger for brick and mortar stores that employee people throughout the country?
I don’t have anger at them – I love them. It’s just sad watching them vanish from my town one by one, whether through their own mismanagement (Blockbuster) or economic conditions (Movie Gallery). Unfortunately, the time of the video store is fading.
“All industries, including the video industry, are in a constant state of evolution. Basic economic forces are always creating opportunities that cause many to reinvent themselves.”
Tell that to theater owners. ;)
http://www.hollywoodreporter.com/news/theater-owners-fuming-studios-vod-173560
There’s a difference between changing market conditions and mismanagement. The second always blames the first.
I agree. I am not denying that market conditions are changing along with increased competition. I do not agree though with everyone claiming that video stores are completely dead. There are currently stores making good money………..there are companies even expanding.