It’s the end of an era. Bloomberg News reports that Blockbuster will shut down the last set of 300 stores remaining in the U.S. The video rental chain will be no more including the streaming service it tried to establish with the arrival of Netflix. The plan will go into effect early 2014.
While it may be sad for movie buffs from the 90’s who frequented this bastion of film knowledge, this classifies as more of a milestone instead of a surprise. The company has been struggling for years thanks to the shift towards streaming. The Dish Network CEO (the company acquired the chain in 2011) even acknowledged that in his official statement seen here.
It’s no question that Blockbuster has had a serious fall from grace. Two years ago, the New York Times pointed out that other businesses were staking their claim in the forgotten shells. Back in its heyday, Blockbuster was considered a game changer. Blockbuster fell apart a long time ago but Netlix and Amazon will benefit from picking up the remaining pieces.