Blockbuster Goes Retro, Brings Back Late Fees

After nearly five years of offering “no late fees” to its ever-dwindling customer base, Blockbuster announced this week that it’s feeling a little nostalgic for the days it actually made money and is bringing back those good ol’ late fees.

Blockbuster will charge $1 for up to 10 days for late returns, with a max fee of $10 on $4.99 new releases. Additionally, they’ve cut the rental period on new releases from seven days down to five.

This news comes as Blockbuster shared some grim financial news with the world. In the fourth quarter of 2009 alone, the company lost $435 million, blaming their continuing slide on competition from companies like Netflix.

Blockbuster loses $435 million in fourth quarter [Variety]