The closing credits are about to roll for Blockbuster.
The company whose stores used to be bustling with business on all Friday and Saturday nights, will close its remaining 300 locations by early January.
It will put an end to its DVD-by-mail business, as well.
"This is not an easy decision, yet consumer demand is clearly moving to digital distribution of video entertainment," said Joseph Clayton, CEO of Dish Network, Blockbuster's parent company. "Despite our closing of the physical distribution elements of the business, we continue to see value in the Blockbuster brand, and we expect to leverage that brand as we continue to expand our digital offerings."
Dish Network says it will retain licensing rights to the Blockbuster brand and its vast video library, focusing on a streaming service (Blockbuster@Home) that its customers can use for a fee.
Blockbuster On Demand will also remain for the time being.
With Netflix taking off and folks watching movies online or choosing to watch TV online these days, Blockbuster's revenue fell to $120 million in the second quarter of 2013.
That is less than half the of what it generated ($253.3 million) a year ago at the same time, making this decision a really easy one from a business perspective.
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