Remember when everyone in the country was choosing to “Make it a Blockbuster night?” Thanks to Netflix, that’s a thing of the past. In fact, according to this infographic by Online MBA Programs, a source for finding online degrees, as of 2011, Blockbuster had closed one third of all its locations, while Netflix’s number of American and Canadian subscribers equaled the entire population of Australia.
The convenience of direct-to-your-door movies and video games and instant online streaming has made Netflix the world’s leading internet movie/TV subscription service, and the second biggest video subscription service. In the process, this entertainment giant has destroyed Blockbuster, which went from $6 billion in revenue in 2004 to bankruptcy in 2010. In those exact same years, Netflix soared.
Here are some of the other numbers regarding Blockbuster’s downfall:
– In 2000, Blockbuster declined offers to buy Netflix for $50 million. Today, Netflix is worth well over $2 billion.
– Netflix streaming represents over 20% of downstream internet traffic during the peak hours of 8-10 PM.
– When Starz sold their entire library to Netflix in 2008—2,500 pieces of content—it cost $30 million. Today that would cost them $250 million.
To learn more about Netflix’s rise and Blockbuster’s demise, check out the full infographic below: