Media is an ever changing and evolving field with new and innovative ways of getting information out to the people. Whether it be text messages for breaking news headlines or streaming live tv on mobile devices people have come to expect media to be at their fingertips know matter where they are at. For the video rental industry this very thought has caused some companies loss and others a great gain. For Hollywood Entertainment Corporation, owner of the Hollywood Video and Movie Gallery chains filed for bankruptcy this past February. As much of one-third of the locations between the two will be closed, including the Movie Gallery locations in Oxford. Ironically, while the location on University Ave. liquidates its inventory, the location of Jackson Ave. is doing the same only, the Jackson Ave. location closed as a result of a landlord excuse before the bankruptcy.
Video Rental companies has struggled since the increase in alternative rental options such as Redbox and Netflix. Redbox are a boxed kiosk at many public businesses and allow people to rent a video simply by swiping their credit card. The person is charged as many days as they keep the movie. Netflix, while charging a monthly fee, have affordable plans that allow people to receive movies in the mail and keep them as long as they would like. Netflix also includes an online library for members which allows members to watch movies online or a number of Netflix devices including XBOX 360, Playstation 3 and many different Blu-Ray players. These flexible options have caused many to abandon movie rental stores, who at one time held a virtual monopoly on the video rental industry. Also, companies like GameFly, offer a Netflix type plan for video games instead of movies. While Movie Gallery closes it doors, Blockbuster has attempted to innovate their business model, now offering on demand movies as well as a mail service similar to Netflix. As the Oxford Movie Gallery locations prepare to close their doors like many others across the nation, the future for this industry is uncertain.
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