In an effort to fight upstart content distributors like Netflix, Blockbuster Inc. is planning to eliminate late fees on games and movies as of January 1.
Blockbuster apparently makes as much as $300 million annually on late fees; they think they'll make up for this lost income with increased volume.
Don't know what this will mean to the future of Blockbuster, but I do know that it's just another sign that we're catching up to the future every day, and the way we think about media, content, and ownership is changing rapidly.
1 comment:
Boingboing.net just posted a brief on this story as well, and cited Toner Mishap as the source. They called it "Blockbuster competes with Netflix by dropping late fees" - this should get us on the Technorati listing.
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