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Best Buy announces the name of their online video rental service

In an attempt to cut into the online video market, Best Buy has come out with the details (including the name) of their brand new online video rental service. Set to release at the end of this month Best Buy is hoping it will be able to compete with Netflix and iTunes.

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Cambonez2323d ago

I really don't understand why Best Buy feels it has any business competing in this market. Maybe they're big enough and successful enough to diversify simply for the sake of diversification, even though it seems dumb. Isn't there an untapped retail niche market they could tackle? Like a high-end Best Buy computer store?

I think it just dawned on me that a huge amount of Best Buy's sales are from physical CDs and DVDs. If physical media goes away, they just lost an absurd amount of their sales. But they should have executed this a looooooong time ago. I think competition is too much by this point.

darklordzor2323d ago

Yeah if they're doing this to ensure some sort of security against physical media disappearing, they should have started a while ago.

Their moves lately just seem desperate. Getting into this on top of wanting to do used game sales, and publishing their own gaming magazine. Why are they trying to stretch so thin?

Ru2323d ago

I hope they dont pull a Circuit City!
Actually those going out of business sales were great!

amsdesignphoto2323d ago

It's as if they're trying to sell hot chocolate during the summer. It isn't going to be very successful. Too little too late. The market is flooded and I hope they don't regret the decision they're making. As a bargain shopper, I can tell you I would look elsewhere for DVD rentals. Only thing Best Buy has been good for has been me purchasing my portable external hard drives; other than that, I don't use them due to their overpriced items.

darklordzor2323d ago

Yeah that was the great part of Circuit City going under, I got so many Blu-rays for incredible prices. Though I would be incredibly sad to see Best Buy disappear.

jarodwarren2318d ago

Hey when you see a dollar, you grab it. I imagine it's the same philosophy as Wal-Mart carrying video games. Though they make the lion's share of their money from housewares and groceries, they can throw the video game selection is as mere add-on opportunity. They don't need it, but they can take money from competitors as a kind of "shine-on". It's not to serve customers, but to sucker punch the competition by stealing their dollars.