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
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...