Netflix Is Opening Physical Stores, And Blockbuster Has A Great Reaction
Blockbuster says to Netflix, "Should we tell Netflix how this ends?"
Netflix is planning to open physical stores as soon as 2025, and one company that tried that and ultimately failed, Blockbuster, had a great reaction on social media.
Blockbuster, a movie rental chain whose fortunes declined amid the shift to digital and streaming, posted a reaction X/Twitter. It said, "Oh boy... Should we tell Netflix how this ends?"
The account has been roasting Netflix recently. It also tweeted its advice to influencer Kalen Allen to dress up as Reed Hastings for Halloween and that the best thing it watched this weekend was "watching Netflix say they're going to open brick and mortar video stores."
Bloomberg recently reported that Netflix will open physical stores--called Netflix Houses--beginning in 2025. Details are scant, but the report quoted Netflix's Josh Simon as saying opening stores is a way to allow its fans to "immerse themselves" even more in the world of Netflix's movies and TV series. Previously, Netflix opened a pop-up restaurant in Los Angeles.
"Success in the real world through location-based entertainment is the spoils of victory for a leading tastemaker. If Disney and NBC Universal can operate theme parks I give Netflix a decent shot of succeeding with this venture," media analyst Rick Munarriz told NPR.
Blockbuster was once a dominant player in the video rental space, but--for a variety of reasons--the company ultimately failed to stay relevant and financially solvent as the entertainment business shifted toward digital and streaming. There is one remaining franchised Blockbuster store, located in Bend, Oregon.
Netflix expanding into physical stores is no surprise given the company is on a never-ending pursuit to make more money and expand to additional markets to reach more people in new ways. Amazon did something similar by getting into brick-and-mortar with its purchase of Whole Foods.
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