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- Molly Sloan
- Never forget what you’re really selling. For years, Blockbuster dominated the video rental space. But at some point, they lost sight of what business they were really in.
- You need to be willing to adapt. (And half measures won’t cut it.) 1997 era Netflix–before the company embraced streaming. When you dig into the Netflix vs. Blockbuster story, it becomes clear that Blockbuster did (eventually) realize that the Netflix model was the future.
- The customer-driven approach always wins. Customer-Driven Sales & Marketing from Drift. By putting the customer at the center of your process, and optimizing for their happiness, you can safeguard against having a Blockbuster-like meltdown.
- The Rise of Netflix
- 3 Takeaways from The Netflix vs. Blockbuster Battle
- Final Thought: Change Is Inevitable
When Netflix launched in 1997, Blockbuster was the undisputed champion of the video rental industry. Between 1985 and 1992, the brick-and-mortar rental chain grew from its first location (in Dallas, Texas) to more than 2,800 locations around the world. Two years later, Viacom paid $8.4 billion to acquire Blockbuster. So by the time Netflix showed u...
1. Never forget what you’re really selling.
For years, Blockbuster dominated the video rental space. But at some point, they lost sight of what business they were really in. Instead of focusing on delivering incredible (and affordable) entertainment to their customers – something Netflix definitely has down – Blockbuster put more stock in the model they were comfortable using. And hey, who can blame them? Back before the internet became integrated into nearly every facet of our lives, it was hard to imagine brick-and-mortar Blockbuster...
2. You need to be willing to adapt.
When you dig into the Netflix vs. Blockbuster story, it becomes clear that Blockbuster did (eventually) realize that the Netflix model was the future. And they did make changes to address it. But in the end, it was too little, too late. Blockbuster could never fully evolve into the modern business it needed to be in order to compete with Netflix. Once owning 9,000 stores in the US, Blockbuster now has a single brick-and-mortar presence – a lone store in Bend, Oregon. As Forbesreported: Techno...
3. The customer-driven approach always wins.
By putting the customer at the center of your process, and optimizing for their happiness, you can safeguard against having a Blockbuster-like meltdown. As we’ve already established, there were several factors that contributed to the company’s downfall, including not understanding what business they were really in – entertainment, not retail – and not being flexible enough to adapt. But another key piece of the puzzle was Blockbuster’s unwillingness to put their customers first. The company’s...
When I was a kid, getting to pick my own movie at Blockbuster was a rite of passage. Every weekend, my siblings and I would pile into my dad’s car and make two stops. First, we marched into Blockbuster. Then it was over to the supermarket next door for snacks, soda, and frozen pizza. It was our little ritual. But these days, the idea of goingto a b...
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Sep 20, 2019 · Blockbuster Could Have Bought Netflix for $50 Million, but the CEO Thought It Was a Joke John Antioco's arrogance in September 2000 cost Blockbuster its future.
Sep 8, 2020 · In early 2000, Netflix founders Reed Hastings and Marc Randolph offered to sell the company to Blockbuster for $50 million. Blockbuster turned them down. Eventually, Netflix triumphed over...
Sep 2, 2011 · In the analysis below, we explain how Netflix and Blockbuster stack up against each other on both fronts (discs and streaming), look at the other competitors (including Hulu Plus, Amazon, Vudu...
Apr 28, 2021 · Apr 28, 2021. Before Netflix, Blockbuster used to lead the entertainment market by renting movies and games. In the beginning, Blockbuster rented the films with late fees. And Netflix was a...
May 25, 2023 · Blockbuster Had The Opportunity To Buy Netflix For $50 Million But 'Laughed Them Out Of The Room' — A $150 Billion Mistake. Caleb Naysmith. May 25, 2023 · 2 min read. Netflix Inc., once an...