Citation
Form 10-K Annual Report for Fiscal Year 2002
TL;DR
Record revenues of $5.57 billion in 2002
This SEC filing provides primary source documentation of Blockbuster at its peak: record revenues of $5.57 billion in 2002, over 8,500 stores worldwide. Critically, it documents that late fees represented approximately 16% of revenue (~$800 million) - a business model vulnerability that Netflix exploited and that Blockbuster's rigid membrane couldn't adapt away from.
Key Findings from Inc. (2003)
- Record revenues of $5.57 billion in 2002
- Over 8,500 stores worldwide at peak
- Late fees represented approximately 16% of revenue (~$800 million in 2000)
- Business model dependency on late fees created strategic vulnerability