In a market ran by video-streaming. Blockbuster decided to announce today that the existence of its retail stores will soon come to an end.
Blockbuster will close its 300 remaining U.S. stores by early January. And the Blockbuster By Mail service will end in mid-December.
The company filed for bankruptcy in September 2010 and Dish Network Corp. Acquired Blockbuster in 2011 for $320 million as a way for the TV provider to compete against rivals like Netflix.
“This is not an easy decision. Yet consumer demand is moving to digital distribution of video entertainment. ,” DISH president and CEO Joseph P. Clayton said in a statement Wednesday.
“Despite our closing of the physical distribution elements of the business. We continue to see value in the Blockbusters brand. And we expect to leverage that brand as we continue to expand our digital offerings.”
Blockbusters currently allows you to download or stream moves on a movie-by-movie basis. Not as part of a subscription or package.