Blockbuster Closing Stores, Cutting Jobs
It’s a sign of the times. Dish Network, the parent company of Blockbuster, has announced it will be closing about 300 stores and eliminating some 3000 jobs. I remember when going to Blockbuster to rent videos and later DVD’s meant hoping that your favorite would still be in stock and then waiting in long lines to check out. Things have changed.
According to CNN Money,
Blockbuster has struggled in recent years to compete with Redbox, a DVD rental and digital streaming service provided by Coinstar (CSTR), and Netflix (NFLX), which offers movies and TV shows for digital streaming in addition to its mail order DVD rentals.
Add to this the competition from “On Demand” movie channels provided by local cable outlets and other streaming services and the idea of driving to a store to rent a movie is proving to be a thing of the past. So far no list of closures has been made available thus the fate of the New Hartford and Oneida stores is still unclear.