Last year Blockbuster went into bankruptcy in the US, after many consumers turned their back on the chain and used other methods to watch movies. Then the company was purchased by the Dish Network, and now it has been announced that Blockbuster is to cut movie rental price, but is it too little too late?
The DVD market is shrinking as more people turn to streaming services to watch their films, and to try and combat this the company have announced some changes to its polices according to Shane McGlaun of SlashGear.
From today there are thousands of movies available for rent for only $0.99 per day, and prices of recent releases have also been dropped. For recent releases you only have to pay $1.99 for the first day and $0.99 for each day after.
For brand new releases the rental price will be $2.99 for the first day and $0.99 thereafter. There is also another new service announced which is the unlimited rental plan. This will run until July 4 and customers can go into a store and rent a $2.99 movie, they can then get another movie up to the value of $1.99 for the first day at no charge.
When the free movie is returned they can go back as often as they want to get more free rentals, so this could mean you can watch as many movies as you like until July 4 for $1.99. This will surely tempt some customers into stores but will it be enough to turn the fortunes round?
What do you think of the Blockbuster pricing?