BBI meaning in Business ?

Answer:

What is Blockbuster, Inc. mean?

Blockbuster, officially Blockbuster LLC and also known as Blockbuster Video, was an American-based provider of home movie and video game rental services. Services were offered primarily at video rental shops, but later alternatives included DVD-by-mail, streaming, video on demand, and cinema theater. Previously operated by Blockbuster Entertainment, Inc., the company expanded internationally throughout the 1990s. At its peak in 2004, Blockbuster consisted of 9,094 stores and employed approximately 84,300 people: 58,500 in the United States and 25,800 in other countries. The last remaining store is located in Bend, Oregon.

Poor leadership and the impact of the Great Recession were major factors leading to Blockbuster's decline, as was the growing competition from Netflix's mail-order service, video on demand, and Redbox automated kiosks. Significant loss of revenue occurred during the late 2000s, and the company filed for bankruptcy protection in 2010. The following year, its remaining 1,700 stores were bought by satellite television provider Dish Network, and by 2014, the last 300 company-owned stores were closed. Although corporate support for the brand ended, Dish retained a small number of franchise agreements, enabling some privately-owned franchises to remain open. Following a series of further closures, most recently in 2019 in Western Australia, only one franchised store remains open, located in Bend, Oregon, United States.

reference

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