Brick and mortar are no matches for cheap kiosks and the Internet. If you hadn’t already gathered, it appears that Netflix and Redbox are taking control of the three-way battle for movie rental customers. The latest sign: Movie rental giant Blockbuster plans to shut down nearly 1,000 stores by the end of 2010.
News of the mass shuttering is reported by Reuters.
Netflix’s success in attracting customers has only increased during the recession, and even though Blockbuster has entered the $1 DVD rental market to confront Redbox—including free rental promotions from its new line of Blockbuster Express kiosks—the movie rental stalwart is clearly in jeopardy. Blockbuster stores are apparently going the way of Chrysler dealerships.