Hold the popcorn. Forget the soda. Blockbuster, the last of the old-style video rental chains is history.
Yesterday, DISH Network, which purchased the chain in 2011, announced it was closing down the last 300 Blockbuster stores, because “consumer demand is clearly moving to digital distribution of video entertainment.”
Hmm. The biggest surprise here may be that there were still 300 Blockbuster stores standing in the age of OnDemand, Netflix and Amazon Prime.
There was a time when for many people Blockbuster WAS the video entertainment industry. But as technology advanced, the chain was not able or willing to change with the times.
Netflix itself nearly stumbled a few years ago–dividing itself into CD-based and online streaming divisions–before it realized the business was delivering entertainment, in whatever distribution method customers demanded.
What kind of outdated assumptions are you working with in your business? What artifacts of a prior era are you still holding on to? Take a hard look–before the final credits begin to roll.
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