How Much Is It to Rent a New Release at Family Video
 | |
| Type | Private |
|---|---|
| Industry | Video rental |
| Founded | 1978 (1978) |
| Headquarters | Glenview, Illinois, U.S. |
| Number of locations | Online Web-shop only |
| Area served | U.s., Canada |
| Key people | Charles Hoogland, CEO Keith Hoogland, President Eric Hoogland, Vice-President |
| Owner | Highland Ventures |
| Number of employees | ~7,000 |
| Website | world wide web |
Family Video Flick Guild Inc. is an American online video rental concatenation serving the Usa and Canada. The family-owned visitor is headquartered in Glenview, Illinois.[one]
History [edit]
In 1946, Clarence Hoogland founded Midstates Apparatus and Supply Company. His son Charles Hoogland inherited the business in 1953. The company after became a benefactor for Magnetic Video.[2] After getting stuck with a large inventory of backlog video movies in the late 1970s, Charles got the idea of creating the Video Movie Club in Springfield, Illinois in 1978. The club originally charged a $25 membership fee and $5 rental fee, and later evolved into Family Video.[iii]
Because competitor Blockbuster's main focus was larger cities, Family Video was more often than not established in rural areas, suburbs, and minor-to-midsize cities.[four]
In 2003, Family Video relocated its headquarters from Springfield to Glenview, Illinois. By 2013, Blockbuster had closed virtually all of its remaining stores. Past the terminate of 2016, Hastings Entertainment liquidated, making Family Video the sole-surviving video rental chain in the U.s..[five] [6]
In improver to its brick and mortar locations, Family Video branched off into other markets such as real estate, 24-hr fitness centers, cell phones, and cable tv.[7] The company also sells new and previously used items online.[8] Family unit Video expanded into the Canadian market in 2012.[9]
Subsequently years [edit]
In 2013, following the continued decline of competing video rental stores, Family Video formed a partnership with Marco's Pizza, providing space for the franchise in many of its stores. The company used the partnership equally a style to evangelize video rentals with pizza orders. Family Video too leases infinite to other retailers such as hair salons and fitness centers.[10] [11] Dissimilar most competitors, Family Video owned the real manor housing their stores, helping the company avert unsuccessful lease negotiations that led to the demise of Blockbuster, Movie Gallery, and Hollywood Video.[12] Rather than depending on the revenue-sharing model used by others, the concatenation bought and owned its movies to keep all the rental profit.[thirteen] In addition, information technology owns a cobweb-optic network in the Central Illinois region, called i3 Broadband, likewise as a small-scale concatenation of fitness centers named StayFit-24.[xiv]
In tardily 2019, the number of stores was reported to be almost 600,[15] down from a peak of 800, just due to the COVID-nineteen pandemic, the chain was forced to shut 200 stores in autumn 2020, with about 300 locations remaining.[16]
On January 5, 2021, the company appear all remaining 250 stores would close.[17] [18] Information technology is at present an online company only.[xix]
References [edit]
- ^ Kirsch, Noah (February 21, 2017). "The Last Video Chain: The Inside Story Of Family unit Video And Its $400 Million Owner". Forbes . Retrieved Jan 5, 2021.
- ^ "UIS receives $i million gift for new recreation and fettle middle" (Press release). University of Illinois Springfield. July thirteen, 2005. Archived from the original on March 9, 2014. Retrieved January 5, 2021.
- ^ "History". OTT.X . Retrieved June 7, 2019.
- ^ Shropshire, Corilyn (April 6, 2017). "For Family Video, renting movies is the past, present and definitely part of the future". Chicago Tribune . Retrieved January 5, 2021.
- ^ "Blockbuster to shut about 300 stores in U.South." Los Angeles Times. Jan 22, 2013. Retrieved February 26, 2013.
- ^ "Dish Network to shut 500 Blockbuster stores". Yahoo! News. Associated Press. February 24, 2012. Retrieved September 10, 2012.
- ^ "Chain with Illinois roots still growing after video-rental competitors stumble". TMC News. August 15, 2011. Retrieved September 10, 2012.
- ^ Landis, Tim (April 20, 2010). "Family Video edifice stores while other bondage close". The Country Journal-Register. Springfield, Sick.
- ^ Wolter, Owen (January 17, 2012). "Opening Before long: Family unit Video Movie Rental Shop at Tecumseh and Hall". City News . Retrieved September 10, 2012.
- ^ Landis, Tim (February six, 2013). "Family Video president sees continued growth". The State Journal-Annals. Springfield, Sick. Retrieved Feb 26, 2013.
- ^ Penzenstadler, Nick (January 30, 2014). "Motion-picture show chain adds pizza to fight streaming wave". United states Today . Retrieved January five, 2021.
- ^ Briggs, James (January xv, 2016). "Video stores still 'alive and well' in Indy". Indianapolis Star . Retrieved January 15, 2016.
- ^ Mertes, Micah. "How Family unit Video stays afloat when bigger bondage didn't". Omaha World-Herald . Retrieved Jan 5, 2021.
- ^ Woodside, Nathan. "Provider Spotlight: iTV-iii Expanding Fiber to the Habitation Service in Key Illinois". Broadband Illinois.
- ^ Bach, Trevor (December 13, 2019). "CBD Helps Revitalize Midwestern Video Chain". U.Due south. News & World Report . Retrieved January 5, 2021.
- ^ Crow, Sarah (October 9, 2020). "This Honey Shop From Your Childhood Is Closing 200 Locations".
Family Video has announced its decision to close 200 of its stores...
- ^ Ennis, Tricia (Jan 5, 2021). "Family Video endmost all remaining stores". WTVG News . Retrieved January 5, 2021.
- ^ All Family Video Stores Endmost|Family Video
- ^ Family unit Video, the last video shop chain in the U.S., is closing all 250 stores - cleveland.com
External links [edit]
- Official website
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Source: https://en.wikipedia.org/wiki/Family_Video
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