Why Blockbuster Failed: It Wasn't Just Netflix

Why Blockbuster failed is usually told as one story: it turned down the chance to buy Netflix, and Netflix put it out of business. Blockbuster's own filings, its bankruptcy papers and the people who ran it tell a longer story, with more than one cause. This video follows the turn in the summer of 2007 and the people who made it. In June, under chief executive John Antioco, Blockbuster told its lenders it expected more than four million members by the end of the year for Total Access, the program that let members bring movies back to a store for free rentals. On July 2, Jim Keyes took over. Over the next three months, Blockbuster changed the program's prices, cut its advertising and let its costliest members go. By September 30, Total Access was down from 3.6 million members to 3.1 million. It also covers what usually gets left out: the $140 million the free swaps cost in 2007; the money Blockbuster borrowed in 2004, before its split from Viacom, that was still owed when it filed for bankruptcy in 2010; Carl Icahn's own account of the decision; and the causes Blockbuster gave under oath, which named no competitor. Gone Public tells the stories of recognizable brands through the specific decisions and the specific people that shaped their fate. The next story is already in production. Subscribe so you don't miss the next one. Thumbnail photo: "The Few That Remain: An Open Blockbuster Video Store in Fairbanks, Alaska, February 2018" by Will Buckner on Flickr, CC BY 2.0. Contact: gonepubliccontact@gmail.com © Gone Public 2026 #Blockbuster #WhyBlockbusterFailed #BusinessDocumentary