Reuters says that Blockbuster will begin offering 99 cent rentals for the first time ever, according to CEO Jim Keyes. The details of which movies will be 99 cents have not been announced, but Keyes did say that the price point would include “thousands of DVDs, including many classic older movies.”
“We do have plans in the month of January to more aggressively roll throughout the system a value offer that will include movies in the 99 cents price range,” Blockbuster Chief Executive Jim Keyes told the Reuters Media Summit on Thursday.
“The 99 cents plan is targeted at the value-conscious consumer in this challenging economy.”
“Targeting” the “value conscious” consumer in this economy is the equivalent of standing 5′ in front of Soldier Field and trying to hit it with a shotgun, so we wish him the best of luck. It’s certainly a better idea than Blockbuster’s previous plan — buying Circuit City.