Innovation and ingenuity are crucial factors not only for the survival of a business but also for its commercial success. But what happens when once revolutionary and pioneering companies are resting and refusing to adapt to new data, remaining clinging to their glorious past? Blockbuster Blockbuster has been the largest video rental chain in the world, with thousands of stores worldwide. But their inability to adapt to the digital age led to their rapid fall. In the early 2000s, entry into the streaming online streams market such as Netflix marked a major change in the way people enjoy films and television shows. However, Netflix has not always been the giant of the entertainment it is today. 2000 was a non -profitable newly established business that offered DVD rentals in an attempt to overthrow the Blockbuster business model. Marc Randolph, who co -founded Netflix along with Reed Hastings […]
Source: News Beast
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