Blockbuster to take on Netflix with a streaming service

Blockbuster, the once popular video rental service, filed for bankruptcy earlier this year and was snapped up by Dish Network but since then we haven’t heard much about it – until now. Dish Network and Blockbuster has sent out an invitation to the media, informing them about an important announcement that will be happening later today. Taking place in San Francisco at 1PM EST, the event will be related to the tagline “a stream come true”, which we can only imagine will be the introduction of a new streaming service.

Blockbuster went broke earlier this year because of its reluctance to move into the digital space and completely relied on physically rented DVDs. Needless to say, the physical format started losing out to digital content, and Blockbuster couldn’t recover from the downhill tumble. However, this announcement of a new streaming service might bring the company back from the dead. Netflix has been taking a lot of flak recently, with a large number of unsatisfied customers – if Blockbuster can offer more content (especially movies) and at a better rate, it looks like Netflix could be in trouble.

Stay tuned and we’ll keep you posted on the announcement later today.