NEW YORK (Reuters) - Video rental chain Blockbuster Inc. named on Monday James Keyes as its new chairman and chief executive to replace current CEO John Antioco.
Until I saw that item today, I had forgotten Blockbuster even existed. Between Netflix and the cable companies' VOD services, I don't know too many people who go to Blockbuster any more. Their two stores that were in my neighborhood both closed a few years ago. (I used to go to one of them, and I think I still owe about $4 in late fees. Sorry BB. That's probably why they're on their way to going out of business.)
But the Blockbuster saga shows how fast technology changes, when even a store that now rents only DVDs and video games still can't keep up with the times.
I'm guessing that the brick & mortar video stores will soon all go the way of those little one-hour photo developing places. There's a few hanging on, usually as booths inside a drug store, but with digital photography being the dominant force in the camera market today, do you know anyone who still gets film developed?