We haven’t really covered Blockbuster’s DVD-by-mail service since this past March when a string of policy changes finally culminated in our exclusive scoop covering the elimination of Total Access’ one competitive edge over Netflix — the ability of subscribers to enjoy their free in-store rentals while they awaited new DVDs to be delivered by mail. Apparently, we weren’t the only ones appalled by the move. The following is pulled from the company’s latest 10-Q filing:
a $40.7 million decrease in by-mail revenues driven by a 34% average decline in by-mail subscribers”
So, in a single quarter, Blockbuster reveals that it shed 34 percent of its by-mail subscribers and the hejira resulted in a $40.7 million decline in by-mail revenue. Ouch. The prior quarter was no different, and Blockbuster has seen a $76.3 million total decline in by-mail revenue over the half. Time to switch things up, fellas.
[Via Zatz Not Funny!]