Online streaming brings an end to an era

April 5, 2016

 

We all remember the days before Netflix, Hulu and Amazon.

 

The time when Friday and Saturday nights were spent at Blockbuster and Hollywood video, picking out the new releases and classic movies to rent and take home.

 

With Hollywood Video having closed the doors to all its last standing locations in 2010, Blockbuster was one of the last standing movie rental companies with standing locations around the U.S. (not including Red Box).

 

Blockbuster released a statement earlier this year on Forbs magazine claiming that they would be closing their last standing stores in the south west, including El Paso.

 

The Blockbuster home movie and gaming rental provider first opened their doors in the early 1980’s.

 

Being founded in Dallas by a man named David Cook the company began to grow rapidly through the years opening doors in over nine countries.

 

They reached their peak in 2004, with over 60,000 employees and 9,000 stores within the U.S. and internationally. 

 

With the result of new online movie streaming companies such as; Netflix, Hulu Plus and Amazon Prime, they allow movie watchers to choose a movie to watch instantly that they don’t already own without leaving the comfort of their home.

 

This created major competition for the Blockbuster rental industry, causing the demand from customers to drop.

 

From what I’ve found in Huffington Post, I have personally come to see that internet streaming websites happen to be the major problem for the cause of the shut down on the once movie giant, Blockbuster.

 

According to the Huffington Post, Blockbuster began to see a major decline in business back in the beginning of 2010 leading to their file of bankruptcy later on that same year.

 

In 2011 Blockbuster auctioned off the remaining of their 1,700 stores, selling them to DISH Network for over $320 million.

 

Within the following two years Dish ended up closing over more than half of the stores they bought in auction.

 

By the end of last year (2015) it was reported that Dish remained to keep 51 Blockbuster stores open all remaining across the U.S.

 

Our home city of El Paso happened to be one of the few cities left that kept the Blockbuster franchise alive.

 

Our city also happened to be the only city that carried four up and running stores while the second largest number of stores running in one city averaging at two.

 

The first weekend of April (this past weekend), the final four Blockbuster franchise’s in El Paso closed its doors of good, due to loss of business and revenue.

 

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