By early 2007 Blockbuster's Total Access was actually outgrowing Netflix. Then the board blew it up. Anyone here remember Total Access from the inside?
Went down a rabbit hole on this and the numbers genuinely surprised me. Total Access hit ~2 million subs by January 2007 and was adding them faster than Netflix at that exact moment. For a second there, Blockbuster was actually winning the streaming/mail war.
Then Antioco gets pushed out after the bonus fight with Icahn, Jim Keyes comes in, jacks up the Total Access pricing and basically dismantles the one thing that was working.
What gets me is everyone online still repeats the "they were too dumb to buy Netflix for $50M" line, when the real story is they had the win in their hands and the boardroom threw it away.
For anyone who worked there in '06-'07 — did it feel like that on the ground? Like the company was actually turning a corner before management killed it?