Blockbuster has hinted that it could make a stunning return almost a decade after going out of business. People believe that the video game and movie rental store could be set for a return after leaving a cryptic message.
People are speculating that the comeback is imminent, as Blockbuster reactivated their website, leaving nothing but a cryptic message that reads: “We are working on rewinding your movie.”
At its peak in the late ‘90s, Blockbuster owned over 9,000 video-rental stores in the United States, employed 84,000 people worldwide, and had 65 million registered customers - but a poor decision in 2000 arguably led to its demise.
In 2000, Blockbuster declined the chance to purchase Netflix, which was only valued at around $50 million. Years later, Netflix became one of Blockbusters main competitors and are arguably one of the main reasons Blockbuster went bankrupt.
When sites like Netflix began to emerge, with people able to stream thousands of movies and TV shows from the comfort of their own home, the demand for stores such as Blockbuster plummeted.
At the time of their demise, the company filed for bankruptcy with debts racking up to around $900 million. Their failure to adapt to the changing market, as well as reasons mentioned above saw one of America’s staples disappear across the globe.