How Blockbuster was destroyed for not following the era
It might be easy to say that many world revolutions happened way before the social networks. Therefore, we might say that they could have still happened today without the help of social media.
Well, that would make sense if the world was still the same but people are changing. What was enough to shape a public opinion isn’t anymore with the changed level of education, fast pace of life and so on.
Let’s take for example the case of Netflix and Blockbuster. Both of these companies were still delivering DVDs to American houses in 2004. Blockbuster was the most famous company and had 6 billions $ of revenu at that time while Netflix was even behind the 1 billion $ margin.
Netflix decided to experiment with the Internet and shift their services from DVD delivery to online-streaming subscriptions. However, Blockbuster that had a business strategy running well for years didn’t believe that they needed the internet to compete.
Well, in 2011, the ancient company declared Bankrupsy and is now part of Dish Group as an online streaming service that ranks way behind Netflix.
Still sure that the world is still the same? Do you think that with the Internet and that we can still do the same things the same way ? Blockbuster, Kodak and Nokia wouldn’t agree so much… The only constant in this world is change.
