In an article from the Wall Street Journal yesterday, Blockbuster CEO John Antioco explained that the next step in turning around the company would be to pay increased attention to the Internet. According to the article Blockbuster is currently workign on a re-launch of its website next month and also has plans to offer online rentals starting in the second quarter of next year.
According to this article, the step is not necessarily one of firm conviction but more a result of the increased pressure o nthe company’s stock price by Wall Street. Analysts feared that Blockbuster will lose its ground in the market without proper Internet pressure, which ultimately affected the company’s stock price. The fact that Antioco refers to some obscure start-up competitor as a business model reference instead of the well established and operational Netflix can also be considered a strong indication that the move is a bit hasty.
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