Blockbuster’s financial outlook not so good
Blockbuster just might be on the ropes. The Dallas, Tex. movie rental chain said in a recent SEC filing that it may not be able to make good on some of the performance-based stipulations for an outstanding loan. If the rental giant isn’t able to secure the $250 million in loans it needs to survive, then its auditors say there’s “substantial doubt” about whether the flailing company can stay in business.
The news isn’t too surprising… Continue Reading
Netflix delivers its 2 billionth movie — and it’s a Blu-ray
“I can tell you I never want to see the movies that come by mail,” is what Blockbuster chief executive Jim Keyes had to say during his company’s most recent earnings call. Well, apparently, someone does.
Netflix announced today that it has delivered its 2 billionth movie by mail — a huge number for a service that launched a decade ago. Meanwhile, Blockbuster, a name that has been synonymous with movie rentals for much longer than that,… Continue Reading
Blockbuster wants to be on Apple products. Apple may have something to say about that.
I’ve already broken down why Blockbuster’s latest attempt to spread its content is a bit sad. It simply always seems to be one step behind in a fast evolving landscape. For example, it has said in the past that it wants to be on portable devices but wanted to use a system (kiosks) that would likely leave out the most popular portable media products by Apple. Well, now Blockbuster is changing its tune.
Blockbuster’s senior VP… Continue Reading
After its own set-top box bombs, Blockbuster partners with TiVo
I feel like I keep writing the same sentence over and over again: Blockbuster has a new plan to reinvigorate its business. Sadly, I feel like I’m going to keep writing that sentence until Blockbuster goes under.
Unfortunately, what the company has been trying is not working when it comes to transitioning into the digital distribution age of movies. So now it’s on to plan H, or perhaps plan I — who can keep track anymore?… Continue Reading
The end (or at least bankruptcy) is near for Blockbuster?
Trading of Blockbuster stock was halted today after its share price plunged more than 77 percent, all the way down to the miniscule $0.22 a share. Why the bloodbath? Bloomberg says the movie rental company has hired a company to explore Chapter 11 bankruptcy filing, according to Tech Trader Daily.
It’s not like we didn’t see this one coming (and predict it). Blockbuster has really been dying a slow death for a long time thanks to… Continue Reading
Netflix streams already rushing past DVDs in 2009?
The business of renting DVDs through the mail has proven to be hugely popular for Netflix. The service came out of nowhere to pillage revenue from movie rental behemoth Blockbuster, and now Netflix is thriving as Blockbuster struggles to hold on. But Netflix’s business model is shifting, too, toward streaming movies over the internet. And it may be happening faster than anyone predicted.
So far this year, movie streams from Netflix are outpacing DVD shipments for… Continue Reading
Roundup: Twestival is tomorrow, Palm talks Pre and patents, Google pays up and more
Here’s the latest action:
Twestival: Bad name, good cause — Tomorrow, over 175 cities around the world will host Twitter festivals (really, meetups), or Twestivals, to raise money and awareness for charity:water, a project aimed at giving some 1.1 billion people on the planet access to clean drinking water. To find an event near you, visit the Twestival site. If you can’t go to one, Magnify.net is powering a live video stream found here, and you can… Continue Reading
Could the Wii be Blockbuster’s savior?
If the future of movie rentals involved trekking long distances to brick and mortar stores to overpay for a movie, Blockbuster would be all set. Unfortunately for Blockbuster, the future of the business lies online. Even worse, all of their competitors realized this before them. And so we have a company that was once the powerhouse in movie rentals in a position of extreme weakness going forward, and scrambling to make deals to catch up…. Continue Reading
Blockbuster claims to open the distribution floodgates — floodgates holding the details remain shut.
On one hand, you want to give Blockbuster credit for at least trying to save itself. But on the other, it’s hard to give credit to a company that perpetually seems a day late and a dollar short.
Yes, Blockbuster has another announcement to make regarding internet movie delivery, and yes, once again it’s something that several of its competitors have been doing for some time. At least, I think.
You see, it’s hard to tell exactly… Continue Reading
Blockbuster and Microsoft: Two peas not in an iPod
When I was growing up, if you heard the term “movie rental,” Blockbuster immediately sprung in your head. That’s not the case anymore. Thanks to Netflix, video on demand from the cable companies and an increasing number of options to rent films over the Internet, Blockbuster is increasingly irrelevant. But it’s trying to battle back, and now it has a new partner: Microsoft.
Specifically, Blockbuster is teaming up with Microsoft to use its new Live Mesh… Continue Reading
Blockbuster’s set-top box: Laughably late, but a good deal
First, Blockbuster said it was in no rush to get its content into the living room via a set-top box connected to the Internet. Then, just a few months later, it indicated that it was rushing to get one done in time for the holidays. Now, just a couple weeks after that, it’s here.
And get this: Despite being perhaps the mother of all flip-flops for the digital media age, Blockbuster’s box actually sounds compelling. Set… Continue Reading
Will Blockbuster’s new set-top box be selling its stock in the bargain bin?
Everyone remembers The Dollar Store. You could buy anything you want as long as it was under a dollar. That now includes Blockbuster’s stock, which has fallen off a cliff this morning, down over 23 percent to near 75 cents a share.
Let me repeat: 75 cents a share. This is the company that was once the absolute power in home movie rentals. Now its stock is cheaper than any movie you can rent in the… Continue Reading
Blockbuster in a rush to get you that set-top box there was no rush for
“Is there any real urgency for us to go out there and create a whizbang set-top box? No,” Blockbuster chief executive Jim Keyes told paidContent in August. So it’s somewhat surprising to hear that the company is now rushing to get a set-top box out in time for the holidays, Home Media Magazine reports. That seems like a pretty urgent move to me.
Of course, maybe I shouldn’t be surprised. This is Blockbuster after all, the… Continue Reading
Online movie distribution: Netflix has a wide variety. Blockbuster gets a late fee.
Netflix continued its assault on the living room today by announcing a deal to put its “Watch Instantly” content on TiVo digital video recorder boxes. This follows similar deals with the Roku living room set-top box, select Blu-ray players and the forthcoming update to Microsoft’s Xbox 360 gaming console. These deals make it clear: Netflix understands where the home movie renting and buying business is heading — online.
Watch Instantly is the name of Netflix’s streaming… Continue Reading
Beacon backlash continues: Class action lawsuit filed gainst Facebook
A class-action lawsuit has been filed against Facebook and other sites for their participation in Facebook’s Beacon program.
The controversial program, which turned into a publicity disaster that Facebook founder Mark Zuckerberg apologized for, alerted a user’s friends about their activity on other sites, for example buying movie tickets on Fandago. Beacon sparked an outcry from Facebook users, who saw it as a violation of privacy and complained that it was difficult to opt out.
In addition… Continue Reading
Blockbuster remembers it bought Movielink for a reason
While company after company enter the digital movie download realm including former outsiders like Apple and Microsoft, the company once synonymous with movie rentals has been noticeably absent: Blockbuster. This was especially surprising since it bought movie download site Movielink nearly a year ago presumably to enter the fray. Now it finally is.
Blockbuster has rolled out a very limited test of its Movielink implementation, according to The Dallas Morning News. 500 select users now have… Continue Reading
Blockbuster returns bid for Circuit City to the crazy store, just misses late fee
Blockbuster today issued a one paragraph statement to announce it was withdrawing its proposal to purchase electronic retailer Circuit City. This is the way a takeover bid ends. Not with a bang, but with a whimper.
Citing “market conditions,” Blockbuster determined it wasn’t in its best interest to purchase the struggling chain. Those market conditions likely being that both companies stocks are in the tank.
When Blockbuster made its initial bid in April, Circuit City’s stock was… Continue Reading
Blockbuster: Perpetually on the cusp of digital distribution
While nearly everyone and their mother is getting in to the digital movie distribution business, one name still notably absent is Blockbuster. Despite being nearly synonymous with movie rentals for the past twenty years, and buying the digital download service Movielink last year, Blockbuster still has not been able to get its act together in the digital world.
Today, at its annual shareholder meeting, the company showed off yet another direction it is attempting to take… Continue Reading
Netflix rides on Blockbuster’s ineptitude — but that won’t last long
You probably already know this, but the days of going to a video store are ending. Online DVD rental service Netflix announced its earnings earlier today and beat expectations in a number of key categories including profits (up 36 percent) and subscribers (up 21 percent).
This news makes former industry giant, Blockbuster, look even more foolish. Blockbuster, which has been trying to compete with Netflix in the online DVD rental business, has been mired in bad… Continue Reading
Blockbuster wants Circuit City: Sinking boat wants more water
Blockbuster was once a name synonymous with movie rentals. Then Netflix, the online DVD mailing service, came along and stole some of that luster. Recently, as the transition to digital distribution for home movie rentals/purchases has begun, Blockbuster has seemed almost comically behind. That reputation could get worse with the company’s offer today to buy number two electronics retailer Circuit City.
The $6 to $8 a share dollar cash offer, which could be worth as much… Continue Reading