A few years ago, Blockbuster was one of the world's largest movie rental chains . It had stores all over the globe, and its locations offered a vast catalog of rental movies, as well as video games and even consoles. But the industry evolved, and streaming services arrived, at which point Blockbuster declared bankruptcy.
The Blockbuster that resists the dominance of streaming
At its peak, Blockbuster boasted up to 9.000 stores worldwide, an incredible empire built on its vast movie catalog (infinite compared to other rental businesses) and its acquisitions of companies in the industry. The brand grew, but as the years passed, the format began to evolve, transitioning from VHS tapes to DVD, a format that later began to lose value, whether due to the extremely low prices offered by supermarkets for movies or the emergence of streaming services.
We just got off the phone with an Australian radio station. The last Blockbuster in Australia is closing at the end of this month making our Bend Oregon Store the Last Blockbuster on the Planet!!!! #LastBlockbuster #IntheWorld
— Blockbuster Bend (@BlockbusterBend) March 5, 2019
Netflix began as a home rental service, a strategy that didn't initially convince Blockbuster, which stuck to its original plans. Interestingly, the giant had the opportunity to buy Netflix for $50 million, but the deal fell through due to the lack of interest from the former executive, who preferred to continue investing in the brick-and-mortar business model.
As you may have already imagined, the move turned out fatally, and Netflix became the monster of streaming and content production that we know today. But what happened to Blockbuster?
The only Blockbuster store in the world that is still open
After declaring bankruptcy in 2010, the company began a process of administrative cutbacks, closing stores that weren't profitable enough. Years passed, and by 2019, only two stores remained open worldwide. Until now. The Blockbuster store in Australia has been forced to close its doors permanently, making the Bend, Oregon (USA) store the ultimate winner.
The store has announced through its twitter account that they are the only surviving store in the world, something that has raised the curiosity of many, turning the entrance into a pilgrimage temple for the most curious. The most interesting thing, however, are the words of its manager, who ensures that the business is prospering and that for now there are no plans for any type of closure. Now that's a Blockbuster.