8. Blockbuster could have bought Netflix
$168.97 billion (Netflix worth 2022)
Fallen video giant Blockbuster used to reign supreme in the 80’s and 90’s but though the chain tried to stay relevant once the 00’s hit, they eventually wound up shutting their doors. The movie maestro had a 13 year rule as the kingpin of the video industry – until Netflix launched in 1998. The new kid on the block initially had an aim to improve the home movie rental market with one simple idea – to offer films up to customers by post.
After a few years struggling to boost its subscriber rate, by offering free trials and deep discounts to entice potential customers, Netflix managed to get enough subscribers so that they were in a position to sell the company, so they made an offer to their rivals – Blockbuster. As at the time, Netflix was still losing more money than it was making, the deal didn’t look too attractive to the still dominant video franchise – so Blockbuster declined the chance to buy the company at the now-bargain price of $50 million.
Since Netflix was last valued at around $168.97 billion, we think former executives at Blockbuster might have come to regret their decision, as the streaming service has now become the main way people consume movies at home. We’re happy to hear there is still one last Blockbuster standing though, in Bend, Oregon, US, and it’s even featuring in a documentary about the video giant’s defiant last stand – which will appear on Netflix, of course!