Why did Blockbuster lose $360 M? Simple, Says CEO Jim Keyes. Because the Movies Suck! - Sitcoms Online Message Boards

Brian Damage · 03-24-2009, 12:35 AM

Shortly after Dallas-based Blockbuster reported a quarterly loss of $359.7 million yesterday, CEO Jim Keyes hopped on a conference call with analysts to reassure them that, look, all's not lost. And while there are myriad reasons for the current state of hurt ar 1201 Elm Street that has led to shares worth 80 cents today -- competition from Netflix, which is currently trading well above the $41 mark, and the set-top box's failure to launch so far -- Keyes had some not-especially-kind things to offer to the folks who stock Blockbuster's shelves. Seeking Alpha offers the earnings-call transcript in which Keyes says:

We think the single biggest driver in the current marketplace the last few months has been title strength and this week is a classic example. Box office is down 56% this week versus the previous year. I think the titles say it all. This week we are proud to offer Punisher: War Zone and Elegy, which are good movies but stacked up against last year's Enchanted, Atonement and I Am Legend, I think that kind of says it all. We have been facing this the last couple of months. Good movies but not great box office hits that we have had. At the same time we have seen unprecedented theatrical strength. As you know this is great for our business in about three months. When it is going on it represents a draw in particular on Friday and Saturday nights for those people who decide to go to the theaters so see Slumdog Millionaire, Watchmen, Paul Blart Mall Cop, and so that has had an effect on us for the first quarter as well.

http://blogs.dallasobserver.com/unfa...uffering_s.php

Brad Russ · 03-24-2009, 01:39 AM

There have been alot of crappy movies coming out lately, and it does seem like finding good movies is fewer and far between these days. I'm sure the economy also has alot to do with the losses that Blockbuster has seen, along with Comcast offering new titles almost immediately after their DVD releases. Hopefully things will pick up for Blockbuster though, because I've always liked them. I'm going to be re-joining their DVD by mail program next month, so I'll be doing my part to help. I prefer blockbuster over Netflix because of their in store rental policy, as well as the fact that you can usually get the new releases quicker with them, whereas with Netflix there's usually a waiting period for new releases.

browneyes106 · 03-24-2009, 08:09 AM

I'm thinking about joining the Blockbuster by mail program too. But I also think Blockbuster gets a lot of competition from Red Box. Red Box is really starting to get popular in a lot of areas and you see them more and more.

catlover79 · 03-24-2009, 08:10 AM

Not to sound cruel, but I'm shedding no tears over this. I was turned down for a job by Blockbuster twice. You had to fill out a computerized application and I supposedly failed the "personality" test. So I said screw them!

browneyes106 · 03-24-2009, 08:19 AM

Quote:

Originally Posted by catlover79

Not to sound cruel, but I'm shedding no tears over this. I was turned down for a job by Blockbuster twice. You had to fill out a computerized application and I supposedly failed the "personality" test. So I said screw them!

I know how you feel. I had to fill out a "personality" test a few years ago when I applied for a job at a EB Games store and I failed. I know a lot of major retail stores, restaurants and other franchise businesses include personality tests which I think it is pretty stupid.

catlover79 · 03-24-2009, 11:22 AM

I think it's an insult!!

robyrob · 03-24-2009, 12:15 PM

i haven't been to a Blockbuster in years, and I probably won't go to one ever again; they closed down the one closest to us and most of the time I will wait to watch newer movies on Showtime/HBO/Starz or if its something I'm really into I'll just buy the dvd when it comes out.

I think your personality is just fine Monika - its their personality test that fails.

catlover79 · 03-24-2009, 01:35 PM

^ Thank you!!

browneyes106 · 03-24-2009, 03:24 PM

Quote:

Originally Posted by robyrob

i haven't been to a Blockbuster in years, and I probably won't go to one ever again; they closed down the one closest to us and most of the time I will wait to watch newer movies on Showtime/HBO/Starz or if its something I'm really into I'll just buy the dvd when it comes out.

I think your personality is just fine Monika - its their personality test that fails.

I haven't been to one in about five years or so. My sister used to go a lot and we would usually rent newer movies. Over time my sister got more into buying DVD's and stopped her membership. But I think I might join the by mail program because there are times I regret buying certain DVD's.

catlover79 · 03-24-2009, 03:49 PM

I just reserve them from the library. It's win/win - it's free and you're not stuck with the movie if you hate it!!

MickeyMac · 03-24-2009, 06:05 PM

I hate blockbuster. The ones here only feature the big hits of Hollywood from the past couple of years. No diversity at all.

*Pleasant Tomorrow* · 03-24-2009, 09:16 PM

lol I just applied there. I lied on the personality test for some of the questions and picked answers I thought they were looking for. Who knows, they could be tricking me into doing just that. Pshaw, that test was RIDIC, though. So stupid.

TJL · 03-24-2009, 09:29 PM

The interweb has killed Blockbuster. People can rent DVDs online or watch them directly on thier computers.

I liked going to Blockbuster, but I just don't have time to do that anymore. Now I have movies waiting for me in my mailbox.

catlover79 · 03-24-2009, 10:04 PM

Our very own Jude used to work for Blockbuster, or as he called it, "Blockhead" video.

Liza · 03-24-2009, 10:33 PM

Oh waah, waah, waah!

So Slumdog Millionaire is at the theaters right now? What's on DVD? Only "The Black Knight" "Mamma Mia," and "Prince Caspian." Also, Walt Disney has recently released "Pinocchio" and "Oliver and Company" - two classics that are certainly doing well in DVD sales (and haven't been in the theatres for at least 20 years).

There are always great films coming out on DVD - new releases or otherwise. They can't blame their losses on Hollywood, that's just pathetic. Their losses are due to a sudden rise in competition from several sources. People are certainly watching "Pinocchio," they just aren't doing it through Blockbuster.

03-24-2009, 12:35 AM	#1
Brian Damage I'm Rich Bitch Forum Icon Join Date: Feb 03, 2002 Location: What Ain't No Country I Ever Heard Of...They Speak English in What? Posts: 63,107	Why did Blockbuster lose $360 M? Simple, Says CEO Jim Keyes. Because the Movies Suck! Shortly after Dallas-based Blockbuster reported a quarterly loss of $359.7 million yesterday, CEO Jim Keyes hopped on a conference call with analysts to reassure them that, look, all's not lost. And while there are myriad reasons for the current state of hurt ar 1201 Elm Street that has led to shares worth 80 cents today -- competition from Netflix, which is currently trading well above the $41 mark, and the set-top box's failure to launch so far -- Keyes had some not-especially-kind things to offer to the folks who stock Blockbuster's shelves. Seeking Alpha offers the earnings-call transcript in which Keyes says: We think the single biggest driver in the current marketplace the last few months has been title strength and this week is a classic example. Box office is down 56% this week versus the previous year. I think the titles say it all. This week we are proud to offer Punisher: War Zone and Elegy, which are good movies but stacked up against last year's Enchanted, Atonement and I Am Legend, I think that kind of says it all. We have been facing this the last couple of months. Good movies but not great box office hits that we have had. At the same time we have seen unprecedented theatrical strength. As you know this is great for our business in about three months. When it is going on it represents a draw in particular on Friday and Saturday nights for those people who decide to go to the theaters so see Slumdog Millionaire, Watchmen, Paul Blart Mall Cop, and so that has had an effect on us for the first quarter as well. http://blogs.dallasobserver.com/unfa...uffering_s.php
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03-24-2009, 01:39 AM	#2
Brad Russ Member Forum Fanatic Join Date: Feb 17, 2002 Location: Portland, Oregon Posts: 10,085	There have been alot of crappy movies coming out lately, and it does seem like finding good movies is fewer and far between these days. I'm sure the economy also has alot to do with the losses that Blockbuster has seen, along with Comcast offering new titles almost immediately after their DVD releases. Hopefully things will pick up for Blockbuster though, because I've always liked them. I'm going to be re-joining their DVD by mail program next month, so I'll be doing my part to help. I prefer blockbuster over Netflix because of their in store rental policy, as well as the fact that you can usually get the new releases quicker with them, whereas with Netflix there's usually a waiting period for new releases.
	__________________ St. John 15:13 - Greater love hath no man than this, that a man lay down his life for his friends." Currently my favorite song.

03-24-2009, 08:10 AM	#4
catlover79 God Bless Val Forum Addict Join Date: May 29, 2006 Location: Bewitched in Ohio Posts: 70,392	Not to sound cruel, but I'm shedding no tears over this. I was turned down for a job by Blockbuster twice. You had to fill out a computerized application and I supposedly failed the "personality" test. So I said screw them!
	__________________ "Jesus loves you and He approves this message." "I'm alive. I'm feeling good. I'm trying to live every moment as much as I can." - Valerie Harper, March 2013

03-24-2009, 12:15 PM	#7
robyrob certified wackball#3 Moderator Forum Icon Join Date: Aug 03, 2003 Location: hiding under the third booth at Arnold's Posts: 58,203	i haven't been to a Blockbuster in years, and I probably won't go to one ever again; they closed down the one closest to us and most of the time I will wait to watch newer movies on Showtime/HBO/Starz or if its something I'm really into I'll just buy the dvd when it comes out. I think your personality is just fine Monika - its their personality test that fails.
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03-24-2009, 09:16 PM	#12
Pleasant Tomorrow Member Forum Addict Join Date: Feb 19, 2003 Location: New York Posts: 69,525	lol I just applied there. I lied on the personality test for some of the questions and picked answers I thought they were looking for. Who knows, they could be tricking me into doing just that. Pshaw, that test was RIDIC, though. So stupid.
	__________________ my name is ashlee Welcome! Everything is fine.

03-24-2009, 08:09 AM	#3
browneyes106 Member Forum Veteran Join Date: Apr 01, 2008 Posts: 6,094	I'm thinking about joining the Blockbuster by mail program too. But I also think Blockbuster gets a lot of competition from Red Box. Red Box is really starting to get popular in a lot of areas and you see them more and more.

03-24-2009, 11:22 AM	#6
catlover79 God Bless Val Forum Addict Join Date: May 29, 2006 Location: Bewitched in Ohio Posts: 70,392	I think it's an insult!!

03-24-2009, 01:35 PM	#8
catlover79 God Bless Val Forum Addict Join Date: May 29, 2006 Location: Bewitched in Ohio Posts: 70,392	^ Thank you!!

03-24-2009, 03:49 PM	#10
catlover79 God Bless Val Forum Addict Join Date: May 29, 2006 Location: Bewitched in Ohio Posts: 70,392	I just reserve them from the library. It's win/win - it's free and you're not stuck with the movie if you hate it!!

03-24-2009, 06:05 PM	#11
MickeyMac Member Forum Star Join Date: Jun 18, 2008 Location: Kalamazoo, Michigan Posts: 19,008	I hate blockbuster. The ones here only feature the big hits of Hollywood from the past couple of years. No diversity at all.

03-24-2009, 09:29 PM	#13
TJL Suburbanite Extrordinaire Forum Star Join Date: Dec 29, 2001 Location: New Jersey - the cradle of civilization Posts: 16,588	The interweb has killed Blockbuster. People can rent DVDs online or watch them directly on thier computers. I liked going to Blockbuster, but I just don't have time to do that anymore. Now I have movies waiting for me in my mailbox.
	__________________ "I think I'll stroll up to the front to see how the shooting's going..." - Capt. Benjamin Franklin "Hawkeye" Pierce Read my blogs! http://centralparkamisguide.com/ http://dvdcriticscorner.com Visit me on Facebook!http://www.facebook.com/profile.php?id=641138880 Hey, I do the tweet thing too! http://twitter.com/TomLevier My shop of handmade items! http://www.etsy.com/shop/ColdGarageCreations

03-24-2009, 10:04 PM	#14
catlover79 God Bless Val Forum Addict Join Date: May 29, 2006 Location: Bewitched in Ohio Posts: 70,392	Our very own Jude used to work for Blockbuster, or as he called it, "Blockhead" video.

03-24-2009, 10:33 PM	#15
Liza BestYearsofOurLives Forum Veteran Join Date: Apr 24, 2001 Location: Rochester, NY Posts: 6,537	Oh waah, waah, waah! So Slumdog Millionaire is at the theaters right now? What's on DVD? Only "The Black Knight" "Mamma Mia," and "Prince Caspian." Also, Walt Disney has recently released "Pinocchio" and "Oliver and Company" - two classics that are certainly doing well in DVD sales (and haven't been in the theatres for at least 20 years). There are always great films coming out on DVD - new releases or otherwise. They can't blame their losses on Hollywood, that's just pathetic. Their losses are due to a sudden rise in competition from several sources. People are certainly watching "Pinocchio," they just aren't doing it through Blockbuster.