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  • Blockbuster turns to video games  0 comments
    Jun 22, 2009 10:37 AM | about stocks: BBI

    Mark your calendars for June 30th. That’s the anticipated pilot program Blockbuster (BBI) is launching which will begin to distribute video game titles along with its movie by mail service to limited subscribers. The program will initially kickoff in Cleveland and should be completely rolled out by the end of the year. This initiative serves nicely as it places Blockbuster ahead of Netflix (NASDAQ:NFLX) in terms of content offering. Blockbuster will be the only service available which will rent games and movies. It is also a great recession proof business as the videogame industry behaves very well during financial crisis.

    Currently Blockbuster offers free in store rentals with the Total Access service, when it comes to video games, members will be offered games at half price when visiting stores. This feature is a long time coming. Members now can upgrade their membership and will be charged one fee instead of holding multiple memberships between Netflix, Blockbuster, Gamefly, Gottaplay etc…

    Albeit a great step forward, Blockbuster has a $400 million loan payment coming due next year. Will banks be as generous next time around or will Carl Icahn step up to the plate and provide financing. Time will tell.  "Disclosure: Long BBI"

    Stocks: BBI
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