It’s a tough time to be a video rental store owner wherever you are, but it’s especially tough if you’re Blockbuster Inc and have 6,500 stores to manage, thousands of employees, expensive debt repayments and a sinking share price.
Yesterday Blockbuster warned for the first time that it may need to file for bankruptcy protection and its auditors at Pricewaterhouse raised doubts about its ability to continue as a going concern.
It doesn’t get any worse than that right? No, it does.
According to a story we spotted today from Hollywood Reporter, movie studios and cable companies are joining forces for a $30 million advertising campaign over the coming months to promote awareness of movies available on cable’s video on demand services.
From Hollywood Reporter:
The Movies on Demand initiative comes as on-demand film rentals have hit new highs as viewing habits are changing, and studios are increasingly looking to capitalize on their high margins amid a more mature DVD market.
The TV, print and online ad campaign runs under the theme “The Video Store Just Moved In” and highlights how easy it is for digital cable subscribers to view movies at home with a simple click of their remote. It also includes a dedicated website at CableVideoStore.com and a Movies on Demand logo.