Blockbuster, Inc. was established in Dallas, Texas in 1985. Many of us remember growing up with the corporation, or even remember the first branches that sprung up around the metroplex. Perhaps, you were one of the many who went weekly to rent the latest and greatest Nintendo games, or went every so often to gather the two for twenty dollars when Blockbuster started to sell the extra copies. Which eventually went to four for twenty dollars in the last few years.
Well the end is near as Blockbuster begins to look further into filing bankruptcy in the next few weeks. With Blockbuster trying to be as innovative as Netflix or Red Box, the corporation just could not handle the competition. In the last few years Blockbuster attempted to allow you to rent movies from the Internet, and rentals were sent to your house-- the same approach as Netflix. But it was just too late. Netflix continued to win on the market when they started offering online streaming, and even extended their product by offering watching movies through the television immediately with WII or Xbox.
The company is currently $1 billion dollars in debt. The date for bankruptcy is estimated to happen in mid-September, they just do not have enough assets to pay off their debts.
Even though Blockbuster will forever be known as the first movie rental company, they had their run, and they did it well. No matter where you are, the blue movie ticket logo, will forever be remembered. Unfortunately, this is where it stops, unless Blockbuster can some how attempt to overcome the latest industry and attempt something even more groundbreaking than the others.