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Blockbuster Reports $11.9 Million in Losses This Quarter
Tags: Blockbuster, Dish Network (all tags)
The rental chain continues to struggle in a market dominated by Redbox.
Dish may have saved Blockbuster from complete shutdown but the one giant chain is still having quite a bit of trouble securing a foothold. The company brought in $231 million in revenue for a total loss of $11.9 million. Last year Blockbuster brought in $347 million.
One of the big issues, according to Dish, is that new inventory is becoming more expensive. The rising cost of new movies and the decrease in customers are a bad combination for Blockbuster. There's also the issue of Redbox, which is dominating the rental market. It's hard to beat the convenience of the kiosks, even if their selection is more limited.
Source: Home Media Magazine
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