Choke on it, boys:
Blockbuster appeared caught in an avalanche of fiscal problems Tuesday as it posted a quarterly loss of $57.2 million that amounted to twice what analysts had forecast. A year ago, it had posted a profit of $48.6 million. The company was also forced to admit that it would not be able to meet its 2005 financial forecast and that it had to negotiate an agreement with creditors to waive certain debt payments in order to avoid defaulting on the loans. Blockbuster also announced that it was raising the monthly subscription fee for its online service to $17.99 from $14.99. Analysts attributed Blockbuster's problems to its decision to eliminate late fees in an effort to compete more aggressively against Netflix, the leading online rental service, and to a slate of new releases that customers found unappealing.
Yeah, it's all Hollywood's fault for producing crap movies. And the article neglects to mention that it wasn't just the so-called "elimination of late fees," it was the replacement of same by a program that made you buy the freaking movie if you kept it for a week which tended to alienate customers. Then there's the fact that they raised their subscription fee (now the same as Netflix), even though Blockbuster's selection is far more limited and many movies are actually edited. How about a crappy video game selection? Lousy customer service? Making the widespread dissemination of lowest common denominator entertainment that much easier thanks to the specific placement of certain stores in order to drive out smaller outlets?
It's probably to early for this, but say 'hi' to Pan Am and K-Mart for me.
Edited, you say?
I didn't know. What are they editing out?
If it's boobies, me and Blockbuster got issues.
I'm right there with you, Vespa. I quit going there when my local BB dumped the entire foreign film section to make more room for TV shows on DVD. That was simply below the belt.
Reasons I hate Blockbuster: 1)The wife and I once got laughed at by their employee when asking for a letterboxed video, "Why would anyone want to watch a movie that way?" 2)I heard rumor that they drug-screened by hair testing, which seems outrageously extreme considering the cost. What's the worst that's going to happen? Some stoner drop a stack of DVDs? 3)Movies staying in the more expensive New Release section for over a year, and 4)Conservatives making my viewing options for me. (Which reminds me: I just heard that a Gallup poll says 45% of Americans believe God created man 10 thousand years ago. FORTY-FIVE FREAKIN' PERCENT! I shudder at the future.)
F Blockbuster in the A hole. I wouldn't think in a million years to look for any of the "quatsi" movies there. If I have to go a major chain video store I don't think Hollywood Video is that bad. They still have the majority of their VHS flicks which really comes in handy when you have that once a decade craving for Solarbabies.
DOWN WITH BLOCKBUSTER!!!
Solarbabies. Delicious.
Peenman, if you rented Showgirls or Requiem for a Dream from BB, you got the R-rated versions (just to name two examples). They edited full frontal out of the former, and most of the infamous ATA scene from the latter.
Pete,
You own face! I've hated BB for years for the same reasons you mentioned and those mentioned by other posters here. They richly deserve the financial reeming they are now enjoying...um...experiencing.
Screw 'em, hope they go under, think of the liquidation sales.
We have a small independent video store that we go to even though it's a much further journey and they charge a smidge more than the nearest BB.
I liked their Movie Pass plan for a while, but I seriously burned through every movie in their selection that I'd ever want to see in about three months. I walked in there to try and find "Koyaanisquatsi" and when I asked the guy there, he said that it was in the foreign film section. Which was basically "Amelie" and "Crouching Tiger."
I summarily asked to cancel the subscription. The straw that broke the camel's back was when they did not, in fact, carry "Koyaanisquatsi" but had an entire wall full of unrented copies of "The Hot Chick."