Why Did Kodak and Blockbuster Fail?

Kodak and Blockbuster are two companies that experienced significant financial challenges and changes in their respective industries.

Kodak and Blockbuster Fail

Kodak

Kodak was once a dominant player in the film and photography industry, but it struggled to adapt to the shift towards digital photography. 

The company was slow to invest in digital technology, and as a result, it lost market share to newer, more nimble competitors. Kodak filed for bankruptcy in 2012 and has since emerged as a smaller, technology-focused company.

Blockbuster

Blockbuster was a popular video rental chain that was highly successful in the 1990s and early 2000s.

However, the company was slow to respond to the rise of streaming video services, such as Netflix, and it was unable to compete with these newer, more convenient options. 

As a result, Blockbuster went bankrupt in 2010 and most of its stores were closed.

In both cases, Kodak and Blockbuster failed to adapt to changing consumer preferences and technological advances, which ultimately led to their financial struggles and decline.