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David P Cook created the first Blockbuster Video store in October 1985 in Dallas Texas Mr Cook intended to establish video superstores that would respond tothe on going trends in the video industry during the 1980s because the number or households buying VCRs was increasing very much and so was the number of film titlesHe wanted to create a store that would respond to the customers needs such as nice facilities wide selections of videos fast service and convenienceA computer system was developed so that the company was able to track specific demographic data customers renting patterns and the number of times a cassette has been rented and the information was collected through the scanning of the customers membership card The primary target market of the superstore was eighteen to forty-nine-year-old adults and six-to-twelve-year-old children In 1986 it is reported that the company was composed of eight stores and eleven franchises in cities with a minimum population of 100000 for example Houston Chicago Detroit In May of 1986 the company officially became Blockbuster Entertainment Corporation BEC In 1987 David Cook founder and chief executive officer CEO left BEC after selling 35 of Blockbuster common shares to John Melk Donald Flynn and H Wayne Huizenga The latter became the new CEO of BEC Under the new management team BEC has expanded into the West Coast Midwest Southwest and Eastern regions of the country by the end of 1992 the company had a total of 3127 video stores BEC wanted to open many more stores in 1993 because it wanted to acquire 25 to 30 of the market shares within the following two years at that time BEC had revenues of 868 millionBEC was growing fast and so were technology and competition It faced competition from other video rental stores like West Coast video Kroger and Winnin different regions In addition new technology brought in cable TV with the pay-per-view or video-on-demand concept consequently customers are
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