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Hollywood Video Closing Down

For some of you this may be old news. But not for a lot of people, including myself, that had no idea that this was going on. I was hoping, at first, that this was all just a joke, and they were not going to close down, although it soon became clear that this was, in fact, not a joke.

This is not the only time Movie Gallery, the owner and operator of Movie Gallery and Hollywood Video, has ever had money problems. Back in 2007 they had to close 520 stores. An additional 400 stores closed during bankruptcy process. In February of this year, an additional 800 stores where told that they were going to be shut down.

On April 30th of this year, a conference call was made. During the conference call, it was announced that all Hollywood Video stores were to be shutdown.

I hate to see this franchise go under. But it is not a big surprise because Netflix and Redbox are starting to take the market by storm.

2 blog comments below

And Netflix should have never succeeded. A lot of people, like me, very much dis-like pop up advertising on the internet and Netflix was the king of pop-ups. We should never have supported that idea and we were all derelict in not protesting it. But to the core of your blog post, the view - on -demand on satellite TV and don't forget the Walmarts of the world will make it tough for any company to specialize in video, retail, rent or otherwise.

TVme on Mon May 24, 2010 2:05 am
Sorry for my late response, life has been a little hectic lately.

I totally agree with you, although the the convenience of Netflix is nice, the fact that it has the ability to put others out of business is not a good thing. Netflix can not be classified as having a monopoly, due to the fact Redbox is around, but they are pretty dang close.

Thanks for the feedback!
Covert-Waffles on Thu Jun 10, 2010 10:49 pm

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