Friday, August 27, 2010

Blockbuster Bankruptcy: Netflix and The New Digital Economy

The above chart is for Netflix, (NFLX, click to receive buy/sell alerts), who appears to be the big winner. Its chart clearly reflects that. A successful dot-com?
Funny, we rented a movie from Blockbuster 2 days ago. I guess we are minority. Sign of the times and the new digital economy.

The great and iconic Blockbuster will apparently be filing for bankruptcy in mid-September, the Los Angeles Times reported.

Blockbuster’s revenue and profits have suffered greatly over in recent years as the rental movie marketplace in light of the rpesence of new online competitors as Netflic and Redbox.

The Chapter 11 period would be used to restructure nearly $1B in debt and would also get out of leases on 500 or more of its American local outlets.

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