Blockbuster- American 🇺🇸based video rental company

Blockbuster was one of the most important video rental chain that operated globally. David cook is the founder. It was found in 1985. The headquarters were in texas, US.

It is a prominent video rental chain that operated globally providing movie and video game rentals through physical stores. The rental rates depends on the movie. In the late eighties it was $3.69 for a new release. $2.99 for older catalouge and $1.99 or even $0.99 for older content. The price of premium plan -3 DVD's a time and unlimited in store trades will rise to $34.99 from $24.99 a month.

During its peak times, in 2004; the company had 9094 stores and 84300 Employees. Netflix, Hulu, Mubi, Crunchyroll were the main competitors of this company. The main reasons for the failure of this company was as follows :

Competition from Online streaming services : The rise of online streaming services provided consumers with a more convinent and cost effective way to acess content, which contribited to the decline in demand for physical rentals. Blockbuster accumulated significant debt due to it's expansion and aggressive store accqusitons, which put further strain on its financial position during challenging times. The company was slow to react to market changes and consumer behavior giving competitor s a chance to gain a strong foot hold in the emerging digital media landscape. This company did not invest enough in technological innovation or unique offerings to differentiate itself from competitors it relied heavily on its existing business model and did not anticipte business model in technology that would disrupt the industry.

As a result of these factors, Blockbuster filed for bankruptcy in 2010 and closed most of its stores in the following years. Netflix, which was once a partner of Blockbuster, ultimately surpassed it and became one of the leading global streaming platforms. The failure of Blockbuster serves as a cautionary tale for companies that fail to adapt to changing market dynamics and consumer6 preferences, emphasizing the importance of innovation and staying ahead of the competition.