There are numerous companies who start off in a successful manner, yet end up bankrupt after a year or less. A perfect example of a failed success story is Blockbuster. A company worth five billion dollars at its peak, was bought in two thousand and ten for two hundred and thirty-three million dollars. The company dominated the movie and video game rental industry for years, how did it fail? It failed due to its failure in adapting to the fast changing industry. Two companies can be held responsible for Blockbuster's quick fall, Netflix & Redbox. These companies brought an even more convenient form of securing entertainment. One allows you to subscribe and view as much as you want on any device possible, the other allows you to rent movies and video games from a vending machine for a low cost. While Blockbuster did do the same thing as Redbox, it was more expensive and it was not as convenient, nor did it accept the fact that going digital was vital for its success in the new
There are numerous companies who start off in a successful manner, yet end up bankrupt after a year or less. A perfect example of a failed success story is Blockbuster. A company worth five billion dollars at its peak, was bought in two thousand and ten for two hundred and thirty-three million dollars. The company dominated the movie and video game rental industry for years, how did it fail? It failed due to its failure in adapting to the fast changing industry. Two companies can be held responsible for Blockbuster's quick fall, Netflix & Redbox. These companies brought an even more convenient form of securing entertainment. One allows you to subscribe and view as much as you want on any device possible, the other allows you to rent movies and video games from a vending machine for a low cost. While Blockbuster did do the same thing as Redbox, it was more expensive and it was not as convenient, nor did it accept the fact that going digital was vital for its success in the new