Slip Slidin’ Away

Cynical-C points to this story in Variety.

“We had the option to buy Netflix for $50 million and we didn’t do it. They were losing money. They came around a few times,” Blockbuster’s CEO, John Antioco, recalls.
Instead, in 2000, Blockbuster inked a 20-year exclusive video-on-demand pactpact with Enron as the energy conglomconglom launched into telecom. Blockbuster canned the pact after nine months.
Netflix is now worth $1.4 billion. Blockbuster’s market cap is about $850 million.

Missed opportunity is such a bitch.

About David Burn

I wrote my first ad for a political candidate when I was 17 years old. She won her race and I felt the seductive power of advertising for the first time. Today—after working for seven agencies in five states—I am head of brand strategy and creative direction at Bonehook in Portland, Oregon.