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Is it lights out for video rental outlets?

The video rental game is a changing climate. With by-mail services like Netflix, combined with the convenience of video-on-demand and rental kiosks like Redbox, the traditional video rental outlet seems like a vestigial service.

The evidence is immanent. Blockbuster closed hundreds of stores over the last two years, and the regional players are closing at a brisk pace.

A local independent rental outlet recently changed their model to provide $1 rentals for anything in the store – Blu-ray, DVD, and video games. This is a great deal to be sure. But you know this came from the fact that every grocery store in the area has a rental kiosk for $1 per day for new and catalog titles, and it’s more convenient. Convenience seems to trump the fact that stores have a much greater selection of movies, and a better chance they’ll have a copy of the new release you want to see, and they have foreign and independent films the kiosks don’t carry.

But we’re in a culture of instant gratification. For so many, getting it now beats out over quality and content, even if price is at parity.

Do you still go to a video store to rent? Why or why not?

Joost gives up on TV streaming

If digital delivery is really overtaking physical formats, someone forgot to tell Joost, who gave up on delivering repurposed content through their online streaming service earlier this week. Instead, Joost will be focusing on delivering third-party video content.

Joost is restructuring their company, including letting go 100 employees. Ad supported content online hasn’t been realizing real profits compared with traditional media delivery through broadcast, cable, satellite and on physical discs. It is especially difficult for Joost who isn’t owned or affiliated with the major broadcast networks, who own both Hulu and TV.com.

The CEO of Joost, Mike Volpi, is stepping down (while remaining chairman of the board). He commented, “In these tough economic times, it’s been increasingly challenging to operate as an independent, ad-supported online video platform.”

Advertising budgets have been cut across the country in this recession, and this is also not helping matters.

I think the future of on demand content will be provided through the established cable and satellite companies. Programs will be available when you want them through the set-top box connected to your TV. I just hope the revenue will remain high so the quality of the shows won’t suffer. But I do think physical media will remain popular for full-length feature films.

Toshiba to give in on Blu-ray?

After Toshiba gave up the fight in the format war, they vowed to remain in the standard DVD business and would not support Blu-ray. But perhaps watching from the sidelines while all of the other CE companies collect new profits from Blu-ray Disc isn’t sitting well with them; after all, they did lose $1-billion in the format war.

Last week, the president of Toshiba, Atsutoshi Nishida said, “It makes no sense to decide not to enter the Blu-Ray market simply because we lost the DVD-format war. We cannot change the fact that we lost, but we would like to keep our options open.”

The main focus for now seems to be on Blu-ray recorders, but I would imagine they will enter the consumer electronics market in the US with dedicated players as recorders generally don’t sell well here. (Maybe a Blu-ray player as capable and affordable as Toshiba HD DVD players?!)

After losing almost $4-billion last quarter, it’s no wonder Toshiba is looking for new revenue streams.