Blockbuster rentals increase
Blockbuster announced today that video game rentals are predicted to represent 12 percent of its business this year. Previously at 10 percent, Blockbuster has stated that rentals are also expected to double to 20 percent by 2003.
"We are already seeing signs the market can fully support three platforms," Chief Executive John Antioco said, referring to Microsoft's XBox, Nintendo's GameCube and Sony's PlayStation 2 video game consoles.
Blockbuster will also add about 300 stores for the full year, and plans to increase capital expenditures to a range of $150 million to $175 million in 2002.
2/12/2002 Matt Stensrud