Blockbuster (retailer)
American video rental company / From Wikipedia, the free encyclopedia
Dear Wikiwand AI, let's keep it short by simply answering these key questions:
Can you list the top facts and stats about Blockbuster Inc.?
Summarize this article for a 10 year old
Blockbuster Video[5] is an American multimedia brand and a former video rental store chain in Oregon. 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.[6] The logo was designed by Lee Dean at the Rominger Agency. [7][8][9][10]The company expanded internationally throughout the 1990s. At its peak in 2004,[11][12] Blockbuster employed 84,300 people worldwide and operated 9,094 stores.[13]
Company type | Subsidiary |
---|---|
NYSE: BBI (1999–2010)[1][2] Expert Market: BLIAQ Expert Market: BLIBQ (BB Liquidating Inc.) | |
Founded | October 19, 1985; 38 years ago (1985-10-19)[3] Dallas, Texas |
Founder | David Cook[3] |
Defunct |
|
Fate | Bankruptcy, liquidation sale, limited continuation of brand name in the United States |
Successor | Sling TV Dish Movie Pack |
Headquarters | Dallas, Texas , U.S. |
Number of locations | 1 (privately owned, franchised) in Bend, Oregon [lower-alpha 1] |
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)[4] |
Parent | Viacom (1994–2004) Dish Network (2011–2014) |
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.[14][15] The next year, its remaining 1,700 stores were bought by satellite television provider Dish Network,[16][17] and by 2014, the last 300 company-owned stores were closed.[18] 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.[11][12][13][19][20][21]