Blockbuster (retailer)
Blockbuster Video is an American multimedia brand and former video rental store chain. It was founded by David Cook in 1985 as a stand-alone mom-and-pop home video rental shop, but later grew into a national store chain featuring video game rentals, DVD-by-mail, streaming, video on demand, and cinema theater. The company expanded internationally throughout the 1990s. At its peak in 2004, Blockbuster employed 84,300 people worldwide and operated 9,094 stores.
A Blockbuster location in March 2007 in Clermont, Florida, as seen from the Citrus Tower | |
| Company type | Subsidiary |
|---|---|
| NYSE: BBI (1999–2010) Expert Market: BLIAQ Expert Market: BLIBQ (BB Liquidating Inc.) | |
| Founded | October 19, 1985 Dallas, Texas |
| Founder | David Cook |
| Defunct |
|
| Fate | Bankruptcy, liquidation sale, limited continuation of brand name in the United States |
| Successor | Sling TV Dish Movie Pack |
| Headquarters | , U.S. |
Number of locations | 1 (privately owned, franchised) in Bend, Oregon |
| Services | Home video rentals (VHS, Betamax, LaserDisc, DVD, Ultra HD Blu-ray, Blu-ray) Video on demand streaming services |
| Revenue | US$3.24 billion (2010) |
| −US$78.8 million (2010) | |
| −US$268 million (2010) | |
| Total assets | US$1.183 billion (2010) |
| Total equity | −US$582.3 million (2010) |
Number of employees | 84,300 (2004) 25,000 (2010) 3 (2019) |
| Parent | Viacom (1994–2004) Dish Network (2011–present) |
| Website | www |
Poor leadership and the impact of the Great Recession were major factors leading to Blockbuster's decline, as was the growing competition from Netflix's mail-order service, video on demand, and Redbox automated kiosks. Significant loss of revenue occurred during the late 2000s, and the company filed for bankruptcy protection in 2010. The next year, its remaining 1,700 stores were bought by satellite television provider Dish Network, and by 2014, the last 300 company-owned stores were closed. Although corporate support for the brand ended, Dish retained a small number of franchise agreements, enabling some privately owned franchises to remain open. Following a series of further closures in 2019, only one franchised store remains open, located in Bend, Oregon, United States.