Blockbuster had an innovative new barcode system, which meant that they could track up to 10,000 VHSs per store to each registered customer, which also meant that they could keep an eye on those lucrative late fees. Other independent video stores could only keep track of 100 or so movies. The thing that really set Blockbuster apart at that time was their huge range of titles. The story goes that they actually had to lock the doors because of overcrowding. And so the first Blockbuster store opened in Dallas on October 19, 1985.Īndy Ash: According to David Cook, the opening night of that first Blockbuster store was a huge success. After studying the potential of a video-store business for a friend, he realized that a well-franchised chain could grow to 1,500 units. So, what happened?īlockbuster was founded by David Cook, a software supplier in the oil and gas industry. Once valued as a $3 billion company, in just one year, Blockbuster earned $800 million in late fees alone.īut fast-forward a decade, and Blockbuster ceased to exist, having filed for bankruptcy with over $900 million in debt. Irene Kim: At its peak in the late '90s, Blockbuster owned over 9,000 video-rental stores in the United States, employed 84,000 people worldwide, and had 65 million registered customers. Account icon An icon in the shape of a person's head and shoulders.
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