Blockbuster drops late fees

[Gothic Sponge]

Blockbuster Inc. announced Tuesday it is abolishing late fees on all its video tapes, DVDs and video games as of Jan. 1.

The world's largest video rental company will still have due dates for their rental products -- one week for games and two days or one week for movies, depending on whether it's a new release.

But customers will be given a one-week grace period after that to return the product. After that grace period ends, the chain will automatically sell them the product, less the rental fee. If the customers don't want to purchase the movie or game, they can return the product within 30 days for a credit, less a restocking fee.

http://money.cnn.com/2004/12/14/news/midcaps/blockbuster_latefees/index.htm?cnn=yes


A sign of desperation, me think.

[tridim]

1. Big time desperation..

They see the threat of Redbox DVD's like the ones at McDonalds. I have a friend who goes there and buys a dozen discs for $12, copies them and returns them the next day. I'm guessing there are lots of people who do that exact thing.

[Endangered Specie]

5. There are so many, dollar a day rental places around here...

that and dvdxcopy... and you are in business.

[ET Awful]

2. I'll stick with Netflix :) n/t

[Endangered Specie]

3. Yes, defenite desperation... I remeber the day when if you were late

they would harass you like an IRS brownshirt. Tee hee, poetic justice.

[obreaslan]

6. Absolutley! They refered me to a collection agency....

for $2.45!!!!!!

I never rented from them again after that.

[Endangered Specie]

10. Im going to enjoy watching them go under.

:)

[kcwayne]

4. I think Netflix has to be hurting them

I went to Netflix in response to BlockBuster's policies on charging a full rental, not to mention the better value. At first, Netflix's value proposition was on the edge because their turn around time on getting movies sent out was such that I could only count on movies from them to be available every other weekend (I only watch movies on Friday or Saturday night).

But Netflix has really turned around their delivery times in my area, and I cannot see any compelling reason to go to BlockBuster anymore.

[radwriter0555]

8. I like the blockbuster immediate gratification factor. I can stop in and

instantly get the movie I want to see. No waiting, planning.

[Squatch]

7. So, if I hold the DVDs I have at home

which are already late, BTW, will the late fees be waved or will I be "grandfathered" in?

[BurtWorm]

9. Phew! I can finally return Meet the Parents!

;)

[Garage Queen]

12. And I can finally return my copy of "Goodburger"

hee!

[shoelace414]

11. Block Buster was buig back when

Movies released on VHS cost $90 for purchase for the first 6 months or so of release.

I think Batman was the first major release that went out at a reasonable price. then DVD were all reasonably priced on their release day, so people stopped renting and started buying.

[Midlodemocrat]

13. Desperation, me thinks as well

...I quit going to Blockbuster because I would always forget to return the DVD on time. Now if it is something I want to watch, I wait until it hits the $5 previously viewed sale rack and grab it.

[Gothic Sponge]

14. It's funny how times change.

I remember when Blockbuster was the giant killing all the Mom & Pop video stores. Now, the giant is being crushed.