Blockbuster bullish on DVD rentals, could hike rates to support upgrades
Blockbuster CFO Tom Casey can say whatever he wants, but to push aside the threat of digital downloads altogether just seems silly. At a recent conference, said bigwig was in attendance to pump up his company, noting that DVD / Blu-ray rentals were still tops in its mind. He pointed out that it's still supporting a $36 billion industry, while the VOD market was remarkably tiny in comparison. He also noted that same-store revenue had recently risen 9%, and while it has been taking big losses of late, he still expects to pull a profit for the year. In related news, further price hikes on rentals could be coming as Blockbuster spends to freshen up stores, add stock and insert kiosks to draw more folks in. We still find it tough to believe that relying on a B&M model in a mail-order / download-at-will world is the best thing to do, but to each his own, we guess.
[Image courtesy of Street Knowledge]
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