The rise and fall of Blockbuster and how it's surviving with just one store left
The rise and fall of Blockbuster and how it's surviving with just one st…
Aug 12, 2020
BUSINESS INSIDERAndy Ash
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This guy buys a small video store and builds a $5B rental empire! 📼💰 Wayne Huizenga spots Blockbuster in 1987—just 8 stores in Dallas. He buys it for $25M, seeing gold in a fragmented $7B video rental market. While others play it safe, Wayne goes on an acquisition spree, rolling up hundreds of rivals and turning Blockbuster into a household name. ✓ Buys up competitors like Erol’s and Ritz, scaling to 4,500 stores by 1994 ✓ Rakes in $2.4B revenue and $785M profit—$800M a year just from late fee
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