Truth behind Blockbuster's 'comeback' amid rumors it could be returning as Netflix rival
Kit Roberts
Featured Image Credit: ROBERT SULLIVAN/Getty
Social media reports claim Blockbuster be making a comeback as a rival to Netflix - but is there any truth to the claim?
It's a tale of hubris, how the titan Blockbuster assumed that the new kids on the block Netflix would be no threat to them, even turning down the opportunity to buy Netflix in 2000.
At the time Blockbuster was very much the big cheese, while Netflix was a long way from the nearly $400 billion entertainment behemoth that it's become.
Netflix, operating as a small startup sending people videos and DVDs in the post, proposed that Blockbuster buy them out for $50 million.
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And in what has become known as one of the most infamous moments in entertainment business, Blockbuster laughed them out of the room.
Of course, with the advent of online streaming, the days of Blockbuster video rentals were ultimately numbered, and just 10 years later the company filed for bankruptcy after being smashed by the 2008 financial crash and pressure from competitors.
Only a single Blockbuster store remains open in Bend, Oregon, operating as an independent franchise.
Now, Netflix has become a titan so big it's redefined the entertainment industry.
But could the once-proud Blockbuster make a comeback as a streaming service, according to some claims?
Well, the short answer is no. The claim that Blockbuster 'is officially making a comeback as a streaming service, positioning itself as the next Netflix' came from X account Hoops Crave, which describes itself as a parody account.
Unfortunately, Blockbuster really has been consigned to history, other than in the hearts of those nostalgic for physical media.
But that very nostalgia could see the former entertainment giant return, though not in a way that you would expect.
This is because there are plans for Blockbuster to open as a themed restaurant, playing into the nostalgia that people have for picking up a movie rental, a bag of chips, and a tub of red goo to dip them in. Delicious.
A trademark has been filed for a restaurant themed around the iconic video rental store.
The trademark application includes 'night clubs; amusement centers; entertainment services in the nature of an amusement center attraction' and 'bar and restaurant services; snack bar services'.
So while it's definitely not going to be making a comeback in entertainment, Blockbuster may not be entirely gone for good, it's just taking on a new approach.
This would not be the first time that a hospitality business has taken Blockbuster as inspiration either.
Manchester in the UK until recently boasted a Blockbuster-themed bar, though the name was later changed to Rewind NQ, reportedly to avoid trademark problems
UNILAD has contacted Blockbuster trademark owner Dish Network for a comment.