The end of an era has come. Blockbuster's parent company, DISH Network, announced this morning that the remaining 300 retail stores in the U.S. will close, along with its distribution centers.
In the statement released, DISH president and CEO Joseph Clayton said, "This is not an easy decision, yet consumer demand is clearly moving to digital distribution of video entertainment. Despite our closing of the physical distribution elements of the business, we continue to see value in the Blockbuster brand, and we expect to leverage that brand as we continue to expand our digital offerings."
Clayton hints at what has been widely accepted as the future of video: streaming media, from companies including Netflix, Apple, and Redbox. DISH had waged countless efforts to fight off a complete closure for years, even launching a mildly successful $20 million ad campaign in 2010. Ultimately, with the growing attraction of subscription streaming services, Blockbuster could not compete, and now we must all bid adieu to the iconic DVD rental store. In truth, most people already did so back in the late '90s.