what was blockbuster stock worth

Full Answer

How much is blockbuster worth today?

Today the company has a market cap of $4.5 billion. Billionaire investor Carl Icahn makes his first investment in Blockbuster in 2004, buying 5.8% of the company's Class A shares for $83.8 million. From 2003 to 2005 Blockbuster loses 75% of its market value as competition increases from the likes of Netflix and Redbox.

What was Blockbuster's stock price in the 2000s?

Blockbuster traded on the NYSE under the ticker symbol "BBI" from 1999 to 2010 and reached the peak of its success in the mid-2000s. The company traded close to $10 per share and reached a high of $10.65 on April 14, 2005.

Why did blockbuster go out of business?

Although Blockbuster stores could remain open by paying a licensing fee to Dish, there was no longer a corporate entity to provide supplies of branded products, forcing franchisees to design and produce their own. Additional store closures would continue.

What is blockbuster's market cap?

With Blockbuster shares floundering around 25 cents apiece, the company's market cap is just $55 million. Blockbuster posts its fourth consecutive quarterly loss in early May as the likes of Netflix continues to eat away at its revenue.

Does Blockbuster still have a stock?

Despite no real ties to the original Blockbuster branding, the company still operates as a penny stock on the market as BB Liquidating (OTCMKTS: BLIAQ).

What was Blockbuster highest stock price?

NVR hit an all-time high of $5,308.48 in mid-2021.

What is the most successful stock of all time?

1. Monster Beverage Corp (MNST)

When did Blockbuster stock peak?

Blockbuster began game and DVD trading in selected U.S. stores. At its peak in 2004, Blockbuster had more than 9,000 stores worldwide.

How Blockbuster stock declined

Blockbuster was founded in 1985 in Dallas by David Cook. At the time, the company was a pioneer in the home-entertainment industry. The company was able to stock thousands of movie titles compared to local stores with limited selections. Blockbuster soared to the top of U.S. movie chains within three years.

How to buy Blockbuster stock

Technically, you can still buy Blockbuster stock, but it's an extremely low penny stock. The price on Jan. 26 was $0.0498 at the close — up from its previous closing price of $0.0057. As of 9:34 a.m. ET on Jan. 27, the price was only up to $0.12 per share.

Blockbuster's highest stock price

Blockbuster traded on the NYSE under the ticker symbol "BBI" from 1999 to 2010 and reached the peak of its success in the mid-2000s. The company traded close to $10 per share and reached a high of $10.65 on April 14, 2005.

Blockbuster stock isn't worth much in 2021

Blockbuster stock is worth very little in 2021. Competitors like Netflix and Amazon have adapted and created the instant video-streaming content platforms that consumers love.

How much did Blockbuster lose in 2005?

From 2003 to 2005 Blockbuster loses 75% of its market value as competition increases from the likes of Netflix and Redbox. Blockbuster's $500 million in annual late fees dwindles as no-late-fee competitors steal market share.

Why did Icahn buy Blockbuster?

24 on the Forbes 400) bought a sizable chunk of Blockbuster's debt in a bid to exert greater control over its looming bankruptcy. (See "Icahn Not Done With Blockbuster Yet.")

When did Blockbuster go public?

The History. Blockbuster is founded by David Cook in 1985 and goes public a year later. An investment group of former Waste Management executives including Wayne Huizenga takes control of the company and builds it up before a sale to Viacom in 1994.

When did John Antioco step down?

In March 2007 Blockbuster announces Chairman and CEO John Antioco will step down by the end of the year. By now a board member, Icahn says, "John and the company have reached terms that are clearly in the best interests of the stockholders."

When did Blockbuster file for bankruptcy?

Blockbuster files for Chapter 11 bankruptcy protection on Sept. 23., declaring $930 million in secured and unsecured debt. The plan is for the chain to shed even more retail locations to refocus on its digital presence and move away from brick-and-mortar stores, historically a major advantage, but now a burden.

Who replaced Antioco?

Former 7-Eleven CEO Jim Keyes becomes chairman and CEO to replace Antioco in July 2007. "He is exactly the right person to become the next leader of Blockbuster," Icahn says. Shares creep up to $4.46 apiece after the announcement.

When was Rent by Mail founded?

The rent-by-mail chain, founded in 1997, capitalizes on the growing popularity of DVDs and by May 2002 has enough growth potential to attract just under $95 million in its initial public offering. Today the company has a market cap of $4.5 billion.

How much did Blockbuster buy Movies to Go?

Two months later, it purchased Movies To Go, Inc., of St. Louis, for $14.5 million. To support its expansion, Blockbuster established six regional offices, including a distribution center in Dallas that prepared tapes to be placed in stores.

How much did Blockbuster make in 1991?

As Wall Street pundits continued to predict that Blockbuster's success was short-lived, and that the video rental industry would be made obsolete by new technologies, Blockbuster's systemwide sales of $1.5 billion in 1991 earned $89 million .

How much did UCTC buy Blockbuster?

In addition, UCTC purchased five percent of Blockbuster's stock for $12.25 million. By November, this stake had risen to 20 percent. With 200 stores, Blockbuster had become the largest video rental chain in the country. At the end of the year, the company's number of stores had risen to 415.

What challenges did Blockbuster face in the 1990s?

In the late 1990s, Blockbuster faced challenges brought about by new ownership, increased competition, and a relatively soft market for videos. Nevertheless, the company has coped admirably by refocusing its efforts on its core video rental business.

How many video stores does Blockbuster have?

is a leader in the field of video and video disk rental. With approximately 27 percent of the U.S. market share, Blockbuster operates about 6,500 video stores, serving more than 87 million customers in the United States, its territories, and 25 other nations. Founded in the mid-1980s as an alternative ...

What is the business model of Blockbuster?

The key elements of this business model are to: provide a large number of copies and broad selection of movie titles; operate conveniently located and highly visible stores; offer superior and consistent customer service; optimize our pricing to local market conditions; nationally advertise and market our Blockbuster brand name and the differences between us and our competitors ; use our extensive customer transaction database to effectively operate and market our business; and improve our efficiency and lower our costs through self distribution.

What was the Republic's most valuable asset?

Republic's most valuable asset was its film library of television shows and films, including several John Wayne movies and the hit television series 'Bonanza.'. In March 1993, Blockbuster also purchased 48.2 percent of Spelling Entertainment, a producer of popular television shows with a large library of past programs.

What company bought Movielink?

He introduced a new business strategy that included enhancements to existing stores. The following month in August, Blockbuster acquired Movielink for $6.6 million, forecasting a shift to streaming video. Movielink was an online video service that allowed customers to download movie rentals from a library of over 6,000 films, created in 2002 by five major studios including Warner Bros, MGM Studios, Paramount Pictures, Sony Pictures, and Universal Studios. The move gave Blockbuster the opportunity to move away from the unprofitable Total Access (DVD-by-mail) service in favor of online streaming. Despite growing competition from Netflix and Redbox, the company downplayed the threat, choosing instead to focus on Apple and Walmart as their primary competition.

How many Blockbuster Express kiosks were there in 2011?

In 2011, nearly 10,000 Blockbuster Express kiosks were in operation. Apart from the license to use the Blockbuster brand name, Blockbuster Express kiosks are unrelated to Blockbuster LLC, its stores, its DVD-by-mail service, or its online streaming service.

Why did Blockbuster shut down its stores?

In 2007, Blockbuster announced that it plans to shut down its stores in Peru due to poor revenues, which it blamed on the effect of movie piracy. The company had already closed down its stores in Ecuador, Portugal and Costa Rica. El Salvador followed in 2010, and Argentina in 2011.

How many stores does Blockbuster have?

In the pilot program, Blockbuster offered selected titles for rental and sale in 250 stores. Blockbuster stocked Blu-ray titles in almost 5,000 stores across the United States, Canada, the United Kingdom, Mexico, and Australia.

What is Blockbuster LLC?

Blockbuster, officially Blockbuster LLC and also known as Blockbuster Video, was an American-based provider of home movie and video game rental services. Services were offered primarily at video rental shops, but later alternatives included DVD-by-mail, streaming, video on demand, and cinema theater.

Why did Blockbuster cancel the 2002 awards?

In November 2001, Blockbuster announced that it would cancel the 2002 award show following concerns about viewership and celebrity attendance after the September 11 attacks.

What is Blockbuster's strategy?

Blockbuster stores followed a strategy of emphasizing access to the most popular new releases, obtaining early access and stocking many copies of the new-release titles, with a relatively smaller depth of selection than traditional independent video stores. Much of the shelf space in the stores was devoted to popular titles that were placed relatively sparsely on the shelves with the entire front cover visible, so customers could browse casually and quickly, rather than having a more diverse selection with fewer copies of each title. Blockbuster sometimes contracted with studios to obtain earlier access to new titles than other companies could achieve. Examples of such contracts were those in which Blockbuster became the exclusive rental chain for new releases from WWE (or World Wrestling Federation), Funimation, Rhino, Paramount, DreamWorks, DWA, Universal, Lionsgate, Summit, Anchor Bay, Manga, The Weinstein Company, Dimension, Miramax, Hollywood, Touchstone, Disney, Buena Vista, 20th Century Fox, MGM / UA, Orion, Sony, Columbia, Tristar, Image, Shout! Factory, Warner Bros., HBO, New Line Cinema and Allumination FilmWorks. As one commentator complained, "Blockbuster was once an unstoppable giant whose franchises swept across the country putting mom and pop video stores out of business left and right by offering a larger selection of new releases, pricing them at a lower point due to the volume they worked in... Gone were the fragmented, independently owned shops that were often unorganized treasure troves of VHS discoveries. In their place were walls of new releases: hundreds of copies of a small handful of films. Everyone watching the same thing, everyone developing the same limited set of expectations... They put focus entirely on what was new rather than on discovering film history ..."