Blockbuster in Perth Closing, Leaving Store in Oregon as the Final Location in the World
According to the Australian Associated Press, the Blockbuster located in the Perth suburb of Morley notified customers that it will be closing its doors by the end of the month. As of March 8, the various Blockbuster-branded swag will go on sale for collectors and sentimentalists.
During its heyday, Blockbuster had more than 9,000 locations around the world. But public emphasis on television, on-demand, and streaming services have devastated the business model. Worse, Netflix co-founder and CEO Reed Hastings famously tried to sell Netflix to Blockbuster multiple times throughout the early 2000’s for as little as $50 million. Netflix’s market capitalization is currently $155 billion.
“We get customers all the time pleading for us not to close as they still enjoy the experience and service that we provide,” store owner Lyn Borszeky told the AAP. “Firstly, the number of customers that have been disappointed when stores have closed and secondly our industry was a great employer of university students, who loved their movies and showed their passion when talking to customers.”
The last remaining brick-and-mortar Blockbuster store on Earth is located in Bend, Oregon, and it’s turned its rarefied status into a benefit, attracting tourists and selling its own signature craft beer.