Good news for people who hate bad movies: Blockbuster says consumers aren’t happily lapping up this year’s new releases, because they’re weaker in quality than the year before.
In a conference call to analysts, Blockbuster CEO Jim Keyes said same store rental sales have dropped significantly this year, and the movies themselves are to blame, Video Business reports. This goes against the conventional wisdom that consumers are simply holding off on purchases because of the recession.

While Keyes’ claim should please people who haven’t been happy with the recent slate of movies, it doesn’t bode well for Blockbuster. The company is trying to reduce its debt by $100 million as part of a refinancing agreement that would extend its line of credit beyond an August due date. To accomplish this, the retail giant plans to cut costs.
Blockbuster will buy fewer DVDs from movie studios in the months ahead and will lobby for better revenue sharing. It will also expand its weekly and monthly rental rate options — though the story doesn’t specify how. Finally, the company said it wants more devices to be compatible with its digitally-delivered content. Could Playstation 3 streaming be on the way? The story doesn’t provide further details.
Keyes also said in the conference call that standalone rental kiosks are in the "final stages" of testing and estimated that 12,000 kiosks will be up and running by the middle of 2010.
Blockbuster stock has struggled over the last year, and was made worse by a Bloomberg News report from January that suggested the compay was mulling bankruptcy. By contrast, mail-order competitor Netflix has seen profits.
23 Comments
EDIT: It also occured to me that walmart puts on DVD's for ridicously cheap prices. Especially older ones. Wait 3 months and the price of a new dvd drops alot. Maybe the price of dvd's has gotten to a point where its better to buy than to rent.
The problem is consumers have now more knowledge about the movie making business and inside leaked details.
Biggest one I know is the Christmas edition of Shrek was suppose to be out 2006 christmas but they ended up releasing it in 2007 christmas
Make it a movie RELEASE THE DAMN MOVIE!!!!! customers know already of the inworkings of movie studios and their media corporations tie ups..
The big 3 also make cars in the Uk, Europe and Asia Market'
In Europe the SAME GM, CHRYSLER, FORD cars get double the fuel mileage. Consumers now know this and are outraged and tired of these companies building the same damn model cars in other markets 0that have more quality, get double the fuel mileage and are built by people wearing proper uniforms not ripped shorts and tshirts wearing earphones listening to music.
I will not buy a new car here that was assembled by a guy wearing ripped shorts and wearing a tshirt NO OFFENCE!!!!! and you autoworkers know exactly what I mean.
And cars have what to do with this article?
2008 was a terrible year for movies. Only a few were released that I actually wanted to see. The Christmas releases really blew. Star Trek was supposed to be released but it got pushed up to the summer. I think one main problem is Hollywood can't think of anything to come out with so they redux old movies in hopes that it will do well.
Oh and the prices they charge for renting films, plus if you rent from one blockbuster store and want to rent a film from another store in your local area you MUST join that store as a new customer, so each store operates as a single store even though its the same company. Wiping your customer records and your details if you don't use your account for a few months, so are expected to join again as a new customer, regardless how many rentals you have had over the past 2-3 years. The UK blockbuster sucks big time
Strange, but about a month ago watched Terminator 2 - old movie , modern special efects are way better BUT it's a good movie, movie interesting to watch. What we have now ? Dark Knight at best case ...
If you don't want to subscribe then we offer $1.99 rentals Sun - Thurs and $2.99 Fri & Sat ... Older movies are .99 every day
It's worked pretty well for us... openeing a Brick and Morter store and cutting back on Ebay /Amazon has been a Big plus for us... people will tell you traditional stores are dead.. everything's online... and that's simply not true... Most of our customers won't shop online unless they have no other choice.. and then there's plenty that wont.
Just in case for some reason any of the higher ups at BB should ever read this... all I can say is this:
Keep doing things the way you are, cut back on stores and install those dumb ass Red Box type kiosks, get into the on demand downloads business... every ignorant concept you want to come up with like that that has brought your revenue down over the past several years will only increase my business.... If you really want a concept that will work and get you at least another 5-10 years or more.. give me a shout... I'm available to help you straighten out your core business.... and you won't have to pay me until I've put you back on top... :-)
finding ways to renege by charging more and providing less.
Of course, many of the movies available are garbage, too. That doesn't
help.
Do U remember one of the last TOP 10 LOVE MOVIES? The main 5 positions belongs to.... '54, '56, '... movies... Only TITANIC reached that top. If U're still sleeping... get lost! Sooner, the better, holliw od. Let others take U're place... And remember: One bump in U're ass is one step forward. I'm that one who's kikking asses... see ya. U may come 2 1st possition with animated movies like Walt Disney. The OOOOOLD ONEEEEES... that make U smile.... or commedies. Smart ones, not stupid ones. I waste enough of my spare time (that's getting more and more small every day) 2 watch U're stupid movies... Last one was Panda Ninja. 4 last 5 years....
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