Blockbuster Posts $37M Second Quarter Loss

Is it just me or does anyone else feel like there’s been an awful lot of news–both good and bad–around all the various players in the movie rental business? I can’t wait for the day when it’s all done digitally and see how Blockbuster tries to play catchup. I also wonder what impact they have had in all the recent Redbox deal–you don’t stay dominant as long as Blockbuster has been without some connections after all.

Home Media Mag

Citing ongoing “trends and market dynamics” and continued “softness” in top line performance, Blockbuster Inc. Aug. 13 reported a second quarter (ended July 5) loss of $36.9 million compared to a loss of $38.9 million during the previous year period. The Dallas-based No. 1 DVD rental chain said the previously reported refinancing and funding of its amended and extended credit facility resulted in more than 25% fewer units available at retail and an approximately 20% lower advertising spend. The company reduced new release spending 28% and other release spending 40% in the quarter due to funding concerns.

 

tagged with

Related Posts