Business Wars Netflix vs Blockbuster Revisited - Sudden Death | 1
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Apr 29, 2019 Explore the fierce competition between Netflix and Blockbuster, which began in the late '90s. Discover how innovators Marc Randolph and Reed Hastings challenged Blockbuster's dominance, reshaping the movie and TV landscape. Journey through the critical turning point at Sundance Film Festival, where corporate tensions and high-stakes meetings defined their rivalry. Uncover the struggles and resilience of businesses in a rapidly evolving entertainment industry, highlighting the significant impact on countless lives and economic landscapes.
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Sundance Showdown
- Blockbuster CEO John Antioco attends Sundance Film Festival, confident in his strategy against Netflix.
- He receives a call from Netflix CEO Reed Hastings proposing a meeting.
Miscalculations
- Hastings believed Blockbuster's online interface was inferior.
- Antioco believed he had replicated Netflix's model and underestimated Hastings.
Underestimation and Debt
- Hastings underestimated Antioco and Blockbuster's Total Access program.
- Blockbuster was losing money on every Total Access transaction, putting them in debt.