Why The Internet May Prove To Be Netflix’s Nemesis
The New Yorker explores how the Internet is changing the movie rental business and its major players.
We have already written about the downfall of Blockbuster. And now with its recent filing of Chapter 11 bankruptcy, the New Yorker looks at the reasons behind its demise, the concurrent rise of Netflix and why it too is in a danger of facing a similar fate as Blockbuster. James Surowiecki of the New Yorker particularly blames the Internet for Blockbuster’s fall as it could not understand the full potential of the web and clung on to their old ‘bricks and mortar’ model.