Source: Blockbuster (retailer)
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Blockbuster LLC
Blockbuster, officially Blockbuster LLC and formerly known as Blockbuster Video,[Citation Needed] was an American video-rental chain founded on October 19, 1985, in Dallas, Texas, by David Cook. Following the success of the first Blockbuster store, Cook opened three more in 1986. In 1987, Wayne Huizenga assumed control of the company following Cook's departure. Moving its headquarters to Fort Lauderdale, Florida, Huizenga began to expand the franchise, opening many new stores and absorbing other video-rental chains. Blockbuster operated around four hundred stores by 1988, making it the leading video-rental chain in America. Blockbuster continued to increase its dominance in the industry, having a thousand stores and a presence in the international market by the early 1990s. Viacom Inc. acquired the video-rental giant in 1994.
With the introduction of the DVD in the mid-1990s, Blockbuster began to face increasing competition from newly-created companies. In 1997, Netflix was founded, introduction the practice of DVD-renting over the internet. Amazon.com launched a video and DVD store around the same time. Blockbuster's competition continued to grow with the advent of internet streaming, allowing users to watch episodes and films over the internet. In 2004, Blockbuster split away from Viacom before launching an online DVD-rental service in an attempt to counter Netflix. Despite this, Blockbuster continued to be outclassed by its competition and ultimately filed for bankruptcy protection on September 23, 2010. By 2014, all remaining Blockbuster-owned stores had closed. The only remaining franchised Blockbuster is located in Bend, Oregon.[1]
From 1998 to 2002, Blockbuster released four Little Bear videocassettes.[Citation Needed]
Citations[]
- ↑ History.com Editors. "First Blockbuster Store Opens ". HISTORY , backup link ERROR! NO ARCHIVE ID GIVEN!, A&E Television Networks, November 13, 2009.