Corporate Events
Blockbuster Bankruptcy
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Blockbuster LLC filed for Chapter 11 bankruptcy protection on September 23, 2010, carrying about nine hundred million dollars in debt after losing ground to Netflix's mail-order and streaming service and to Redbox kiosks; in 2000 Blockbuster had turned down the chance to buy Netflix outright for fifty million dollars.
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Cross-Tradition Connections
Associated With
Blockbuster's collapse is commonly cited alongside Netflix's subscription-based model as a case study in disruption; in 2000 Blockbuster declined to acquire Netflix for fifty million dollars.
Sources
1. Wikipedia, Blockbuster LLC
Wikipedia2007-2011: Leadership changes, decline, and bankruptcyQuote, 2007-2011: Leadership changes, decline, and bankruptcy
On September 23, 2010, Blockbuster filed for Chapter 11 bankruptcy protection due to challenging losses, $900 million (~$1.26 billion in 2024) in debt, and strong competition from Netflix, Redbox, and video on-demand services.
1. Wikipedia, Blockbuster LLC
1. Wikipedia, Blockbuster LLC
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