Is Blockbuster coming back? Internet abuzz with speculation after official website goes live again

The rumour mill is active regarding Blockbuster, the American video rental chain which rented out movies and video games out of brick-and-mortar stores. After the official website (blockbuster.com) became online again over the last weekend, many social media users took to sites like Twitter and Facebook to wonder whether the celebrated entertainment rental service, which went kaput after the advent and rise of streaming services, may be orchestrating a comeback. One user shared screenshots of how the site appears now and how it appeared in 2019. Now, it displays the Blockbuster logo along with the text, "We are working on rewinding your movie."

If Blockbuster is indeed coming back, it is likely that it will not carry the same old business model: renting physical media. Although many people are discovering the perils of online content, where you do not really own any content and it can be removed anytime if the streaming company's deal with the studio expires — as opposed to physical media, where you own the movie or TV show forever, or at least as long as the media works.

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What was Blockbuster and how did it die?

Blockbuster's primary business model now sounds so primitive in the age of streaming and online rentals, but it did work great for them for decades. The company rented movies and video games to customers through its brick-and-mortar stores. Customers could browse the selection of titles available at the store, pick up their desired item, and pay a rental fee to take it home for a specified period, usually a week or so. Customers who returned the rented items after the due date would incur a late fee.

At one point, the company had thousands of stores, not just in the US, but also in the UK, Canada, and Australia.

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The stores were known for their extensive selection of movies and video games, which was one of the reasons it was so popular among customers. The company had licensing deals with most major movie studios and game publishers, allowing it to offer a wide range of titles.

However, with the rise of online streaming services such as Netflix, Amazon Prime Video, and Hulu, Blockbuster's business model became outdated overnight. Customers preferred the convenience of streaming content online over physically going to a store to rent or buy movies and video games. As a result, Blockbuster's revenue and profitability declined significantly, and the company filed for bankruptcy in 2010.

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