9 years ago
2
Netflix is Now Worth Over 900x the $50 Million Price Tag Blockbuster Rejected
The year is 2000, the turn of the millennium, and every strip mall in America has a Blockbuster bustling every weekend with people renting movies and video games. The Netflix execs were in the Blockbuster offices trying to pitch their young DVD-by-mail rental service for $50 million. According to then-Netflix CFO Barry McCarthy, they were laughed out of the building.
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I doubt it would be worth much if Blockbuster bought it.
I don't believe that Blockbuster ever would have realized that they needed to go digital streaming to keep the thing afloat. Blockbuster had to be dragged kicking and screaming into disc rentals and even then they thought they could charge more than Netflix for the same service and it'd work rather than try and be competitive.