A shift to rent movies for 99 cent movies at Blockbuster will no doubt be widely embraced my movie buffs, but will it be enough to save the the movie rental industry?
Blockbuster announced they would begin renting DVDs for 99 cents a flick as of January 2009, a welcome alternative to the $5 new release price most stores charge today, and much easier on the wallet than dolling out $12 per ticket at the theaters.
It's incredible to see how the movie rental industry has changed. It boomed in the 90s, when it seemed just about everyone had a VCR at home. Renting movies, and later DVDs, was a typical weekend activity for family nights in, hanging out with friends and an easy home-date.
A lot of people stopped renting movies, choosing to download them instead, pay for flicks on demand, or opting for cheap ownership techniques like buying previously viewed movies, often for under $5.
Could Blockbuster's new technique revive the business, or is this a telling glimpse into the demise of the overall movie rental industry?
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