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Enron
Acquired
Enron's Video on Demand and Revenue Recognition
Enron provided a video on demand product through Blockbuster before streaming services became popular. Despite the lack of consumer demand and the service never launching, Enron recognized over $100 million in revenue on day one and then offloaded the project to a special purpose entity for even more profit. By terminating the contract due to lack of success, Enron gained the flexibility to make deals with multiple companies, resulting in even higher revenue recognition. This strategy significantly impacted Enron's future value and shareholder returns, showcasing questionable business practices.
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