The talk at the time was blockbuster went down because of the no late fees policy. They used to make a ton off me in late fees and I never held it against them. It seems to be a bit of revisionist history that netflix killed them, although I'm sure they played a role.
Great news? LOL! It means their content cost will just continue escalating, as everyone has predicted and knows full well. Costs continue up and profits continue down, if you have any at all in the next two years, that is. And, that came directly from the mouth of your CEO, not from mine.
Well spending money on content is a good thing, so I'm not sure how the market will take this news. The thing is they seemed to already be overstretched with their current expansion plans. Hastings seems to believe the company can do everything he wants to do and now, not later. Personally I don't believe in him.