Blockbuster to Raise Subscription Prices
Blockbuster Inc. will raise the price for subscription services at some stores next month as it looks for ways to make up for revenue lost when it ended late fees.
The price for unlimited checkout of two movies at a time under Blockbuster’s “Movie Pass” program is being raised $3 to $27.99 a month in a “small” number of stores, Blockbuster spokesman Randy Hargrove said.
On Aug. 9 Blockbuster reported that abolishing late fees reduced revenue by $138.1 million during the second quarter as sales slipped 1.6% to $1.4 billion.
The Dallas-based company raised the price for its Internet rentals by $3 to $17.99 on Friday.
“We’re always looking at our pricing,” Hargrove said. “We still think the Movie Pass offers great value.”
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