In 2009 I did a serious of posts on Blockbuster Inc. exploring the questions of whether or not it would and should survive 2009. I even threw out 8 recommendations for how Blockbuster might rebound.
I sent my thoughts to Blockbuster Video as well - but did not get a response.
But, it's almost mid-year 2010 and Blockbuster stores still are found on many corners across America, and perhaps they will survive...although I'm not seeing a financial recovery for this company that was previously the gate keeper of the home video rental market.
And I think I still find myself asking an even more basic question, of should they survive?
According to the Wall Street journal report yesterday, Blockbuster's low earnings continue to push their stock (BBI) to all time lows from their 2002 high of $30 per share. At closing yesterday, Blockbuster stock was 41 cents a share.
International Closures and Sell Off
Additionally, I keep on reading about Blockbuster selling off, or getting out of the market in non-US markets. Blockbuster apparently is attempting to sell it's European stores, after closing down all it's stores in Spain and Portugal, as well as Latin American countries like Peru. Blockbuster has gotten out of many of these countries for issues relating to piracy.
It's anticipated that Blockbuster UK will be sold off by June 2010.
I'm curious to see what happens in this sell off. If Blockbuster UK, or other European parts of the company are sold, what will these new owners do differently? Is the video rental store a thing of the past, or is there a chance to revive it, and Blockbuster Inc. is just doing it all wrong?
Honestly, I think there's some potential, but probably at this stage in the game, the video rental store might be fading away.
It's been a long time since I've rented from a Blockbuster, and have this strange feeling, it's been awhile for you as well. Then again, that might just be because you forgot how to use your DVD player.