The documentary category is the first one that comes up when I scroll through Netflix. One of the top choices it offered me was “The Last Blockbuster” which is, as you might have guessed, about the very last Blockbuster Video store in the world (there was one in Perth, Australia that closed in 2019). The chain went bankrupt in 2010 and is sort of a punchline these days, but it’s nice to see at least one hanging on for now. I wrote a short Overheard about it on Friday.
The ironic thing is that it was Netflix that basically put Blockbuster out of business and is now profiting from a film about the very last one. Back in 2000 Blockbuster made what is one of the greatest business blunders in history by turning down an offer to buy Netflix for $50 million. It is worth almost 5,000 times that much today.
According to The Oregonian, the documentary’s popularity has revived the store’s fortunes with people buying lots of Blockbuster swag. If they’re one of the few people on the planet without a Netflix account, they can even rent a DVD copy of “The Last Blockbuster” there.