Product Failures: Blockbuster

In 2000, Reed Hastings, the founder of a fledgling company called Netflix, flew to Dallas to propose a partnership to Blockbuster CEO John Antioco and his team. The idea was that Netflix would run Blockbuster’s brand online and Antioco’s firm would promote Netflix in its stores. Hastings got laughed out of the room. Blockbuster went bankrupt in 2010 and Netflix is now a $28 billion dollar company, about ten times what Blockbuster was worth. So what happened that led Blockbuster's demise? We explore that and more today on the show. BIG NEWS We've officially launched the Rocketship Premium Podcast feed! Join today for $5/month or $40 annually, and get access to exclusive bonus shows of Rocketship, previews of new seasons, and an ad free version of every episode of the podcast. Check it out today by clicking here. This episode is brought to you by: Product Institute is an online course for new and tenured product managers. Head to productinstitute.com and enter the code ROCKET at checkout, you'll receive $200 off your subscription. LinkedIn Jobs will match the right talent with your open roll, fast. Head to Linkedin.com/rocketship to get $50 off your first job post. Augusto Digital. Augusto Digital is a product engineering team that creates web, mobile, and cloud based digital products. Rocketship listeners get a free wireframe workshop by going to augusto.digital/rocketship. Rocketship is brought to you by The Podglomerate. *** This show is a part of the Podglomerate network, a company that produces, distributes, and monetizes podcasts. We encourage you to visit the website and sign up for our newsletter for more information about our shows, launches, and events. For more information on how The Podglomerate treats data, please see our Privacy Policy. Since you're listening to Rocketship, we'd like to suggest you also try other Podglomerate shows surrounding entrepreneurship, business, and careers like Creative Elements and Freelance to Founder.