Blockbusters in America go Bankrupt

To this present day, all Blockbusters in the United States have gone bankrupt. The demand to rent or buy movies and games has decreased drastically, due to many new uprising resources. One big uprising resource that contributed to it's bankruptcy is the new website 'Netflix.com', an online movie rental website. People right now are loving this new website for many reasons. It is very convenient for people in many ways; it saves them time from driving to nearby Blockbusters and it saves them money on gas, which helps the environment. Instead they can stay home and rent a movie with the help of their credit cards. Netflix.com has everything Blockbusters were offering such; every genre of movies just in a more convenient and preferred place for a reasonable price of only $7.99 a month.

Another reason Blockbuster suffered bankruptcy is because there are a variety of online websites such as Isohunt, iTunes and many more who are offering movie downloads for free. Clearly, society would rather download it themselves on a safe website than have to go and pay to rent the movie. I personally think that if Blockbuster had offered online movie rentals and downloads, they could have been saved and dodged the downfall. Blockbuster is a very well known businesss for movie rentals so they would have no problems with publicity for their business, they would just have to put together an online rental service and their demand would have stayed strong. With all these easy access and convenient online websites rising up in the popularity bar, consumers demand to rent a movie or game from Blockbuster decreased, and because Blockbuster didn't do anything to try and save their business as they saw new resources on the rise, they dug their own grave and went bankrupt. Knowing that Blockbusters were becoming scarce because of their low demand, they should have done something to bring then on the same level as their competition if not even higher.

Canadian Blockbuster companies can learn from this situation and do what they need to do to prevent this scenario for themselves, like create and online free movie rentals and downloads website. Consumer preference and demand is number one, so if you keep your customers satisfied and happy your business will live. If Canada keeps their Blockbuster prices reasonable and have deals because deals attract consumers, and create convenience for consumers, their demand will still be there. Hopefully Canadian Blockbusters will learn from their good friends and do what they need to do to remain in demand.