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The Rise of Netflix and the Fall of Blockbuster: Insights from Justin Benton | Mick Unplugged

Name: The Rise of Netflix and the Fall of Blockbuster: Insights from Justin Benton | Mick Unplugged
Uploaded: 2024-07-13T13:00:11+00:00
Duration: 35 s
Channel: Mick Hunt
Description: Justin Benton discusses missed opportunities by legacy companies (example: Blockbuster reportedly had the opportunity to buy Netflix for $60 million) and…

13 Jul 2024 · 1 min

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Justin Benton discusses missed opportunities by legacy companies (example: Blockbuster reportedly had the opportunity to buy Netflix for $60 million) and the broad cultural shift toward online shopping and tech adoption. He contrasts earlier demographics ("17%" shopping primarily online, likely younger consumers) with widespread recent adoption (older generations using Amazon and grocery delivery) and notes rapid normalization of technologies like QR codes since 2020.

Questions this video answers

That Blockbuster had the opportunity to buy Netflix for $60 million.

17% (speaker's claim).

QR codes (speaker noted he knew them before 2020; they became common afterward).

Chapters

I mean, you look at Blockbuster, right? They had the opportunity to buy Netflix for $60 million. And now how many billions of dollars is Netflix worth? You know, you look at IBM, you look at Xero, you look at the companies, you know, the old blue chip stocks that had the opportunity to pivot. And this was a major change. And just like you said, I'm sure the 17% that were shopping primarily online were younger. They were millennials. They were in that generation. But now my grandma is shopping and getting her groceries delivered and using Amazon, and I knew what a QR code was before 2020, but nobod, now everybody uses QR codes, so you have to change.