Netflix Defeats Blockbuster

The guys over on Consumerist are suggesting that customer complaints combined with a loss of $35 million in the third quarter by Blockbuster suggests that the old video chain have lost the video rental war with Netflix. A nice quote from Forbes too:

Chairman Jim Keyes announced that Blockbuster will reduce the number of people currently employed by the company in an effort to reduce annualized overhead costs by approximately $45 million.

As if any more proof was need that Blockbuster Total Access program essentially failed to compete effectively against Netflix (nasdaq: NFLX – news – people ), Keyes noted that “the company will no longer be narrowly focused on its online subscriber count but instead will concentrate on the growth of, and report on, its total membership.”

Forbes
Consumerist