Click to Skip Ad
Closing in...
Sony Hack Reveals the Insufferable Whiteness of Hollywood Sony Hack Reveals the Insufferable Whiteness of Hollywood '106 & PARK' Says Goodbye Today, Dec 19 at 6pm, w/ Live, 2-hour, Star-Studded Finale! '106 & PARK' Says Goodbye Today, Dec 19 at 6pm, w/ Live, 2-hour, Star-Studded Finale! First Image of Queen Latifah as Bessie Smith in Upcoming HBO Biopic First Image of Queen Latifah as Bessie Smith in Upcoming HBO Biopic Review: Chris Rock's 'Top Five' Took Me Places I Wouldn't Expect a Chris Rock Film to Go Review: Chris Rock's 'Top Five' Took Me Places I Wouldn't Expect a Chris Rock Film to Go The Gift That Keeps on Giving - Leaked Sony Email Challenges Denzel Washington's Overseas Box Office Appeal The Gift That Keeps on Giving - Leaked Sony Email Challenges Denzel Washington's Overseas Box Office Appeal Backlash Against New VH1 Series 'Sorority Sisters' Backlash Against New VH1 Series 'Sorority Sisters' Tessa Thompson Books Female Lead Role in Ryan Coogler's 'Creed' Opposite Michael B. Jordan Tessa Thompson Books Female Lead Role in Ryan Coogler's 'Creed' Opposite Michael B. Jordan Samuel L. Jackson Has His Own Challenge for Other Celebrites in Reaction to "Racist Police" (Watch) Samuel L. Jackson Has His Own Challenge for Other Celebrites in Reaction to "Racist Police" (Watch) Why Aren’t We Talking About the Sexual Assault in 'Beyond the Lights'? Why Aren’t We Talking About the Sexual Assault in 'Beyond the Lights'? Page to Screen Possibilities for Chimamanda Ngozi Adichie's 'Americanah' (Lupita Nyong'o, David Oyelowo Starring) Page to Screen Possibilities for Chimamanda Ngozi Adichie's 'Americanah' (Lupita Nyong'o, David Oyelowo Starring) David Oyelowo Joins Lupita Nyong’o in 'Americanah' Film Adaptation David Oyelowo Joins Lupita Nyong’o in 'Americanah' Film Adaptation Leaked Sony Emails Reveal Interest in Destiny's Child Biopic + Immersive Kanye West Feature Film Experience Leaked Sony Emails Reveal Interest in Destiny's Child Biopic + Immersive Kanye West Feature Film Experience What Sony Pictures Chief Amy Pascal Should Do if She Sincerely Wants to Make Amends What Sony Pictures Chief Amy Pascal Should Do if She Sincerely Wants to Make Amends Woody Allen Says He Won’t Hire a Black Actor Unless the Role Calls for One... Whatever That Means Woody Allen Says He Won’t Hire a Black Actor Unless the Role Calls for One... Whatever That Means My MoviePass Experience - What Works & What Could Be Improved (The Movie Theater Subscription Service) My MoviePass Experience - What Works & What Could Be Improved (The Movie Theater Subscription Service) Co-Screenwriter of 'Noah' Explains Why There Are No Black People Or POC In The Film Co-Screenwriter of 'Noah' Explains Why There Are No Black People Or POC In The Film Aaron McGruder Finally Explains Why He Left 'The Boondocks' Aaron McGruder Finally Explains Why He Left 'The Boondocks' Lifetime Launches New Series Set In Elite World Of Hip-Hop Majorette Competitions (Watch Preview) Lifetime Launches New Series Set In Elite World Of Hip-Hop Majorette Competitions (Watch Preview) Netflix Explains Why It Doesn't Always Have That Film Or TV Show You Really Want To See (Video) Netflix Explains Why It Doesn't Always Have That Film Or TV Show You Really Want To See (Video) Tichina Arnold Says She Talked To Martin Lawrence About Doing A 'Martin' Movie... Tichina Arnold Says She Talked To Martin Lawrence About Doing A 'Martin' Movie...

"Historic Blockbuster Store" Offers Glimpse of How Movies Were Rented in the Past (Ha!)

Photo of Tambay A. Obenson By Tambay A. Obenson | Shadow and Act July 25, 2014 at 11:31AM

Alas, hindsight is, as they say, 20/20.
1
Blockbuster

Some Friday humor, courtesy of The Onion.

Watching this (and laughing my arse off) I remembered reading about Netflix offering itself for sale to Blockbuster, multiple times in the early 2000s (not exactly all that long ago), for $50 million, and Blockbuster management (also the largest video rental chain at the time, and for many years prior) seemingly lacking the vision to see where the home video industry was going at the time, turned their noses up at the idea.

How quickly fortunes change. A mere 10 years later (actually it too less than that), Blockbuster filed for bankruptcy and shut down all of its operating stores nationwide; while Netflix flourishes (an understatement, as the company is now valued at around $26 billion! I'm sure if Blockbuster brass could peek into the future back in the early 2000s, and see that their then $50 million investment to buy Netflix would be worth $26 billion a decade later, they'd have most certainly made the deal). 

Alas, hindsight is, as they say, 20/20. 

Granted, at the time, Netflix was still a DVD-by-mail company, and didn't have their streaming service yet, so maybe Blockbuster management didn't believe that the business, as it was then, was worth $50 million. But, in the end, Netflix still ended up beating them to the punch when it came to streaming, emphasizing, again, their lack of vision in what was, at the time, a rapidly changing world that directly affected how consumers consumed their entertainment. By the time Blockbuster came around to building its own streaming service, Netflix had already established itself, and had been embraced by consumers.

How will we be consuming our movie and TV content in another 10 to 20 years? I really can't say, but I'm sure companies that are in that space are already considering what lies ahead, in order to stay ahead of the curve, and not get left behind like Blockbuster was a decade ago.

Watch (and weep):

This article is related to: LOL


Shadow & ActNewsletter