Fade to black: Blockbuster's demise may be just a matter of time
Blockbuster is considering closing 960 stores as it tries to compete with new media formats and retail models, that's 20% of its store base potentially gone. Even with more rental kiosks planned, it's getting more difficult for traditional physical stores to compete.
Massive store closures have been rumored before and dismissed by Blockbuster's media relations department. But where there's smoke there's usually fire, and these documents filed with the FCC today are confirmation.
Movie rental locations used to be as common as convenience stores. But with the rise of streaming video, fewer people are renting discs. Even fewer still trek to the store. Netflix has taken hold with movie lovers and vending machines from the likes of Redbox are quickly taking market share.