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Sandy Cook and David Cook develop 10,000 movie titles and 30 categories. Developed idea of blue and yellow well light building with the name "Blockbuster Entertainment Corp."
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Rapid growth = strong buying power with distributors meaning lower prices and newer titles for consumers
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Blockbuster develops strong inventory system with barcodes able to calculate member and movie details
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Blockbuster is developed by Sandy and David Cook after their attempt to buy computer software companies fail.They open their own movie rental store appealing to the new "television household"
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Blockbuster opened in 1985 hoping to open 20 new stores a year with a mom and pop store feel with family oriented movies
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28% of American households were "television houses" (VCR)
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plan to make chain of movie rental stores with over 1,000 stores nationwide
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creates chain of movie rental stores with 1,000 stores nationwide. opens first franchise in GA in 1986
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Opens first franchise store in Atlana, Georgia
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Aqusistions with other movie rental chains
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Store numbers hit 4500 with 1.2 billion in revenue. 1/3 of business outside of the US
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Blockbuster aquired by Viacom
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Store numbers hit 4500 with 100 franchise outlets. 1/3 of businesses outside of the United States with 2.4 billion in revenue
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Profits drop 310 million
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the switch from VCR to DVD did not alter the basic value proposition, target market or operating model
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Viacom sells 18% of its stake in Blockbuster for $465 million
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Blockbuster loses 75% of its market value because of Netflix, Amazon and Redbox
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Neflix offers internet based movie rental and movies through postal service. Blockbuster soon does the same
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Netflix revenue reached 1.2 billion
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Blockbuster in bankruptcy
