Blockbuster news. Good move or bad?

[Almighty Colin]

NEW YORK (CNN/Money) - Blockbuster Inc. announced Tuesday it is abolishing late fees on all its video tapes, DVDs and video games as of Jan. 1.

The world's largest video rental company will still have due dates for their rental products -- one week for games and two days or one week for movies, depending on whether it's a new release.

But customers will be given a one-week grace period after that to return the product. After that grace period ends, the chain will automatically sell them the product, less the rental fee. If the customers don't want to purchase the movie or game, they can return the product within 30 days for a credit, less a restocking fee.

[SykkBoy]

They'll lose a lot of income in late fees....I could see a 1 day grace period, but a week?
I know they are trying to compete with NetFlix, so probably have to do that to keep too many customers from fleeing

Maybe they'll make up for lost revenues from late fees by selling more videos and dvd's?

[Peaches]

I think as soon as people start "buying" a bunch of DVDs they don't want, Blockbuster won't look very attractive.

[Wizzo]

I think its a bad move... Not really sure what the benefit for them is, other than pissing off customers for the most part...

Also, I think Blockbuster could better counter Netflix by offering their monthly service and allow members to go into a store or order by mail... That way your free to order online like netflix, yet go into the store if you don't want to wait...

[Nickatilynx]

Its pretty much great for me.

Half the time I have vids so long I should have bought them in the first place.

[Anthony]

I rememember back in 1999/2000 me, Bishop, and Sykk rented out like 6 tapes and forgot to return for almost month.

We were in a hurry or something, and rather just complain, I paid off the late fees. I guess no one ever paid that much in late fees before.

Ahhhhhh... The road of excess...

[Peaches]

I was in a video store once where a lady was paying a ton in late fees to return an audio book about procrastination :P

[Almighty Colin]

Originally posted by Peaches@Dec 14 2004, 03:55 PM
I was in a video store once where a lady was paying a ton in late fees to return an audio book about procrastination :P

Damn.

When I was a kid I couldn't remember where I left my book on improving your memory (by Harry Lorayne). My father still makes fun of me to this today.

[Peaches]

Originally posted by Colin+Dec 14 2004, 05:05 PM-->