Blockbuster Movie Rentals
Blockbuster to Expand Blu-Ray to 1,700 Stores
Company will continue to offer HD DVD titles online and in select number of stores
In response to the growing demand for high-definition DVDs, Blockbuster Inc. (NYSE:BBI) (NYSE:BBI.B) today announced that it is rolling out an expanded Blu-ray disc inventory for rental to 1,700 corporate-owned BLOCKBUSTER(R) stores by mid-July 2007.
The Company will continue to offer both Blu-ray and HD DVD titles through its online rental service, www.blockbuster.com, and will continue to offer both formats at its initial 250 stores that currently carry both high-definition formats.
"We intend to meet the demands of our customers and based on the trends we're seeing, we're expanding our Blu-ray inventory to ensure our stores reflect the right level of products," said Matthew Smith, SVP Merchandising for Blockbuster.
"While it is still too early to say which high-definition format will become the industry standard, we will continue to closely monitor customer rental patterns both at our stores and online, so we can adjust our inventory mix accordingly and ensure that Blockbuster is offering customers the most convenient access to the movies they want, in the format they want."
When Blu-ray and HD DVD were introduced to the marketplace in 2006, Blockbuster began offering the high-definition formats on all titles in which it was available through blockbuster.com. The Company also introduced both formats on select titles in 250 stores in November of 2006. With Blu-ray rentals significantly outpacing HD DVD rentals at its BLOCKBUSTER stores, the Company made the decision to expand the number of stores offering the Blu-ray format.
With the expansion in July, the 1,700 stores will be carrying more than 170 titles in Blu-ray and will continue to add titles in the format as they are released from the studios.
"We are excited to be able to make more high-definition titles available to our customers in those stores where our research indicates there will be the most demand," said Smith. "Obviously, when customers are ready we can expand the Blu-ray offering into more stores and add HD DVD to more locations if that's what customers tell us they want. We'll continue to work with the movie studios to ensure we have the right assortment of products."
Blu-ray formatted titles are available from Sony Pictures Home Entertainment, Metro-Goldwyn-Mayer Home Entertainment, FOX Home Entertainment, Buena Vista Home Entertainment, Lionsgate Home Entertainment, Warner Home Video, and Paramount Home Entertainment and can be played on Blu-ray dedicated players, Sony PLAYSTATION (R) 3 (PS3 (TM)) or a Blu-ray compatible computer drive.
DALLAS, June 18, 2007 /PRNewswire-FirstCall/ --
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