Blockbuster Total Access Fails, Netflix Wins

We’re ready to call Netflix the winner of this battle of the video war, based on Blockbusters remarkably sad third quarter numbers and the flood of pissed off emails we’ve been getting from Blockbuster’s (former) customers.

Blockbuster managed to lose $35 million in the third quarter, and its customers have been writing in to complain about benefits being cut from their “Total Access” packages.

Not good.

From Forbes:

Chairman Jim Keyes announced that Blockbuster will reduce the number of people currently employed by the company in an effort to reduce annualized overhead costs by approximately $45 million.

As if any more proof was need that Blockbuster Total Access program essentially failed to compete effectively against Netflix (nasdaq: NFLX – news – people ), Keyes noted that “the company will no longer be narrowly focused on its online subscriber count but instead will concentrate on the growth of, and report on, its total membership.”

Netflix wins. We wonder if Blockbuster will continue. Anyone have some tokens they could borrow?
Blockbuster Goes Bust [Forbes]

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