Blockbuster is apparently working on making a comeback, with it’s main focus on music rather then video rentals. What was once the biggest video rental store in the US now is looking for other ways to stay relevant in this non-rental world. Check out more below.
Blockbuster’s new owners are planning to move the High Street entertainment brand into the world of music – with former HMV commercial director Gary Warren appointed to lead the business.
Speaking to Retail Week, the chief executive of restructuring firm, Gordon Brothers Europe, Frank Morton said that the store would also expand into related categories including accessories such as headphones.
Gary Warren is to fill the role of Blockbuster managing director.
While he recognised that both DVDs and music are in decline as far as physical product is concerned, Morton called it “a predictable decline. It doesn’t just shut off like a faucet shuts off.”
He added that Blockbuster would not more into the online streaming space. “Right now we have no plans to develop a digital offer. We continue to work with [Dish – former Blockbuster parent which controls the digital rights of the brand in the US] on that,” he said.
“We have an online presence, but our focus is on the retail offer. It is a sector in transition, no doubt about it, but there are still customers going into stores, around two million I think.”
The Gordon Brothers Europe boss also said that he believed all 264 Blockbusters stores acquired in the deal to be profitable “assuming we can have a dialogue with landlords”.