Blockbuster: How the Movie Industry has Evolved

Good news: Avengers: Infinity War is set to have its 4K Blu-ray and DVD release on August 14. Now, fans will be able to relive the movie experience while watching it in the comfort of their homes. But is this actually news? For years, we have had follow-up DVD releases of blockbuster movies, but as society becomes more modern, the excitement and desire to own a DVD has largely shrunk. Online streaming services, such as Netflix, Hulu, and Amazon Prime Video, have now become the rage due to their wide selection, affordability, and access. These online streaming companies have seized huge chunks of market share, leaving little to no representation of DVD companies, namely Blockbuster.

In 1992, Blockbuster, with its 2800 worldwide stores, was the leader in rental videos, promoting the consumer enthusiasm of watching content which would only become a very profitable business in years to come. Their reign continued for many years until an ambitious startup called Netflix entered the forest seeking to dethrone the lion in 1997. Its CEO, Reed Hastings, sought to completely reshape the industry after he was fined $40 by Blockbuster for returning "Apollo 13" late. What a blockbuster-sized fail; Blockbuster's own faults inspired its biggest competitor and predator. While Netflix's business initiated from renting DVDs, their business model appropriately adjusted to the technological world, eventually allowing subscribers to stream from a wide selection of TV shows and movies. While they didn't have many top blockbuster movies, members just pay $8 per month to access its diverse library. However, Netflix's status as a technology company is better illustrated by its goal of creating numerous original content for its subscribers, a transparent demonstration of its infiltration of Hollywood and the movie industry. Unbelievably, this business model, while placing the company in huge debt, has allowed Netflix's valuation to surpass that of Disney, the epitome of quality movies and entertainment.

As Netflix and other online streaming services continue to grow more powerful, Blockbuster is rapidly dying. After recently closing two of its Alaska stores, the company's entire existence is now only identified in one store located in Oregon. Eventually, the company will cease to exist and will become a fossilized record of history - the end of another era. No necessity in mourning or remembering; Netflix will deter any reminiscence of it.