Blockbuster Video, the iconic video rental chain, is closing down. The company, now owned by Dish Network, announced that they will be closing their remaining 300 Blockbuster stores in the U.S. imminently.
The remaining stores are already winding down but will be officially closing as of January 2014. Included in the Blockbuster closing down is their formerly lucrative DVD-by-mail service which is due to wind down totally by mid-December.
Dish Network, which is situated in Englewood Colorado, released an official statement in which they confirmed the closing down of the company, saying that Dish will retain the licensing rights of the Blockbuster brand and will be focusing its efforts on their video-streaming product, Blockbuster on Demand.
The chain has been in trouble for a long time, they had 30 stores in Jacksonville until 2010 and now there are only two. Workers at those remaining branches said they were instructed by their bosses not to discuss the Blockbuster closing with the media.
One worker said: “You have as much information as I do,” she wished to remain anonymous.
Dish acquired the Blockbuster company in 2011 and at that time took on around 1,700 stores worldwide. Since then their operations in Britain and Scandinavia have been gradually winding down.
Chief Executive of Dish, Joseph Clayton, said about the shutdown: “This is not an easy decision, yet consumer demand is clearly moving to digital distribution of video entertainment. We continue to see value in the Blockbuster brand, and we expect to leverage that brand as we continue to expand our digital offerings.”
Obviously the closing of Blockbuster stores is as a result of the fact that most people opt to download movies, either legally or not, as opposed to having to visit a retail store pick up a movie and then return it under fear of a fine.
What do you think about Blockbuster closing down? Does it bother you? Do you prefer to download movies yourself? Share your thoughts on the matter in the comments feed below.