Last chance to see: streamers bag the best as virus speeds ...

Lifestyle

Last chance to see: streamers bag the best as virus speeds cinema’s demise

As projectors whirr their last, rising profits of the likes of Netflix, Apple and Amazon signal a huge power shift

Michael Cogley

Two decades ago, Marc Randolph made an offer to Blockbuster chief executive John Antioco that he thought he couldn’t refuse: buy Netflix for $50m. Antioco couldn’t help but snigger.

Randolph, who co-founded Netflix along with Reed Hastings, said it was one of the lowest moments of his career: “You fly to Blockbuster, try and sell the business, and they laugh at you.”

Today, Netflix is worth $197bn, while Blockbuster has become a long-forgotten name after it filed for bankruptcy in 2010...

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