Blockbuster

About Blockbuster

Blockbuster filed for bankruptcy on September 23, 2010, with 1 billion in debt. Blockbuster had 9,000 stores at its peak in 2004. The company declined due to competition from Netflix by mail DVD rentals, Redbox kiosks, and digital streaming. Blockbuster turned down an opportunity to buy Netflix for 50 million in 2000. CEO John Antioco resisted a subscription model. Carl Icahn led a shareholder revolt that ousted Antioco in 2005. Blockbuster launched its own by mail and streaming services too late. Dish Network acquired Blockbuster for 320 million in 2011 in bankruptcy. Dish closed remaining Blockbuster stores in 2013. One independently owned Blockbuster store remains in Bend, Oregon. The Blockbuster bankruptcy is one of the most cited examples of digital disruption.