ADVERTISEMENT

1 Blockbuster store left

2000: Opportunity doesn’t often knock twice, but it did when DVD subscription service Netflix was offered to Blockbuster for $50 million. The company declined the offer. Also that year, the company took in a staggering $800 million in late fees, which made up 16 percent of revenue for that year.

Thats hard to believe, both the missed opportunity and the size of the late fee $s. But to hell with them and Columbia House.
 
Thats hard to believe, both the missed opportunity and the size of the late fee $s. But to hell with them and Columbia House.

It’s 100% true, and is very hard to believe they wiffed on the opportunity to purchase at that price. Not hard to believe they were making 16% of revenue on late fees, everyone complained about the late fees.
 
For a short time Blockbuster tried to go to the mailing DVD model that Netflix used. Their angle was you could return DVDs either thru the mail or in their stores so you wouldn’t have to wait the 3-4 days it took Netflix to get your next movie to you in the mail. I’m really not sure why it didn’t work. At the time I remember thinking Netflix was done.
 
It’s 100% true, and is very hard to believe they wiffed on the opportunity to purchase at that price. Not hard to believe they were making 16% of revenue on late fees, everyone complained about the late fees.


Oh, I wasn't questioning you, just shocked that the #s were so high.
 
  • Like
Reactions: DanC78
I went to that Blockbuster Bowl against PSU with my buddy, Osceola63. We stayed at some odd hotel somewhat near the stadium; the workers - from the front desk to the maids, were all dressed in similar uniforms, with turbans and some odd symbol. In the room there was a book about their religious leader, who was "being persecuted by the US government."

The day after the game, we drove home; I was sitting in my living room, describing the place & people to my wife, with 60 Minutes on in the background. On comes a segment about....the very cult that owned the hotel, their dealings, their leader - Yahweh Ben Yahweh - and the crimes of which he was accused (including a dozen or so murders - some that were simply random, as an initiation into the cult, and some that were murders of people who were in the cult & tried to leave).

I reached for the phone to call O63 & tell him to turn on his tv; before I could get ahold of it, it rang. My wife said "I bet that's Lou." As soon as I said hello he yells "TURN ON 60 MINUTES!!!" I laughed & told him I was reaching for the phone to call him but he beat me to the punch.
 
I do personally remember that one...Was played in the ol' "Launching Pad", A.K.A. Atlanta-Fulton Co. Stadium. We'd had a poor season but still managed to blow out the Heels 28-3.
We took our 3 sons to that Peach Bowl. Wifey and kids headed to the car at start of 4th quarter and I stood in a sleeping bag literally shivering. If memory serves the daytime high in Atlanta that day was 26 degrees Listened to the Gator Bowl on the drive back to Jax. Gaytors vs Iowa. Cold and windy and miserable
 
ADVERTISEMENT