No More Late Fees

[dullard]

Originally posted by: K1052

Originally posted by: JeffreyLebowski
Well are they charging you the retail price of the movie, IE $20-$25 or what Blockbuster pays for it. $100 or so, due to licensing for rental.

You would be charged the replacement fee for the disc. BB pays the licensing fee to the distributor as part of the deal for having the title available for rental.

But I'm sure the replacement fee is outragous. Think about it. As it is now, you can rent the movie a few months before buying it for $20 (later that slowly drops to about $10). If you only paid Blockbuster $20 for the DVD, then everyone would do that. Rent a movie the day it comes out and never return it. That way they buy their DVDs at the same price but months before the release.

 

[royaldank]

A report on the local news last night said the restocking fee would be $1.25 or $1.75. The person that saw it said they made it sound like you get your money back if you return it in 30 days. I told him I was pretty sure you just got store credit.

Looks like it will take awhile for stupid people to understand. Still, they need to do something. Rental stores are in real danger of becoming something of the past.

 

[Miramonti]

It may not be a very good move for Ballbuster if people can't find the movies their looking for, since they are going to be out longer now. What they really need to do is lower their ridiculously high rental fees.

 

[deftron]

They should have just stuck with the paid membership they just started
like Netflix has.


I got that from Blockbuster a couple weeks ago ($14 for the first month, two out at a time)
I'l probably cancel at the end of the month because the price goes up to $21

However, I wonder if they're cancelling that program since they're now promoting
individual rental costs again.

 

[royaldank]

I think they need to do a flat $2.50/night deal. It would help keep the stores stocked and you don't need movies for more than a day 95% of the time.

 

[Reckoner]

This program is MUCH, MUCH better than the current system.

Blockbuster has 2 types of rentals, 2-day and 8-day. Say you rent a 2-day movie today, it would still be due back on Sunday by Noon. But with the grace period, you can effectively bring it back a week from Sunday by noon and not pay a late charge.


If you do not bring it back in the grace-period time frame, you will be charged the cost of the movie. However, if you bring the movie back within 30 days, the only charge you'll pay is a $2 restocking fee.



How can people complain for a $2 dollar late charge for holding onto a movie for 38 extra days?



The only problem that can come from this is now all the new releases will be out of stock and meeting demand will be an even larger problem.

 

[FoBoT]

i live out away from any B&M stores and netflix has never charged me a late fee

 

[Train]

competition is good! netflix is driving the cost of video rentals down for everyone.

As for the supply, dont worry, they can produce DVD's by the pennies per disc, and they dont take up much space. They will adjust how much stock they carry

 

[K1052]

Originally posted by: dullard

Originally posted by: K1052

Originally posted by: JeffreyLebowski
Well are they charging you the retail price of the movie, IE $20-$25 or what Blockbuster pays for it. $100 or so, due to licensing for rental.

You would be charged the replacement fee for the disc. BB pays the licensing fee to the distributor as part of the deal for having the title available for rental.

But I'm sure the replacement fee is outragous. Think about it. As it is now, you can rent the movie a few months before buying it for $20 (later that slowly drops to about $10). If you only paid Blockbuster $20 for the DVD, then everyone would do that. Rent a movie the day it comes out and never return it. That way they buy their DVDs at the same price but months before the release.

Titles are available for rental at the same time they go on sale in the retail stores.

 

[Kev]

Originally posted by: torpid

Originally posted by: K1052
They spelled it out fairly clearly in the article, IMO.

I don't see it as a BS policy. The "restocking fee" would have to be rather high to come anywhere near the late fees usually charged.

I like the policy, no question; I just think it's BS to market it as eliminating late fees and offering a "grace period".

how the fvck are they supposed to market it you nimrod?

 

[Schadenfreude]

restocking fee = late fee.

 

[jimikim]

Some movies cost like $50 (the indie ones)

 

[fustercluck]

Actually, it now costs $7.50 to rent stuff, at least that's what it cost last time, just to rent a game.

So the recipt says the due date is saturday before noon, so if i return it on Thursday instead i won't be charged any late fees?

 

[opticalmace]

good strategy overall, but i don't like it one bit
it'll net them some profit...

 

[fustercluck]

So you still have to return it by the due date shown on the receipt?

 

[MisterCornell]

The 7 day "grace period" means nothing. "No late fees" means nothing. Renters will quickly realize that all rentals are now whatever Blockbuster says they are + 7 days. And the new rental penalty is that you own the movie/game. It's a marketing scheme, and not a very well thought out one, IMO.

 

[MisterCornell]

Originally posted by: opticalmace
good strategy overall, but i don't like it one bit
it'll net them some profit...

I think they will lose money actually. People will keep the rentals (BB's capital) out for longer periods, thereby denying them revenues.

When I was a kid, if we returned something late to the video store, my parents would be upset about the late fee and not let me rent any more games/movies for a while. I'm sure BB is getting rid of the late fees because even though they make money for the store, it pisses people off and drives away customers.

But I think people are going to be even more pissed off if they return something late and find out that now they have to own it. Instead of boycotting the video store for a few weeks, they may be driven away permanently.

 

[raildogg]

yeah i saw the ad. they kept repeating the message

 

[StageLeft]

Obviously desperate.

 

[Paulson]

For $14.99 I've got the blockbuster online deal going on... it's awesome

3 DVD's at a time and fast shipping.

 

[Yossarian]

Originally posted by: jacktackle
So you still have to return it by the due date shown on the receipt?

they want you to, but you won't be charged if you keep it up to 7 more days.

 

[Reckoner]

If you can't get a 2-day rental back within 9 days or a week-long rental back in 2 weeks you have issues.

 

[Gibson486]

This mean they wiped out my past late fees?

 

[0roo0roo]

Originally posted by: PaulNEPats
If you can't get a 2-day rental back within 9 days or a week-long rental back in 2 weeks you have issues.

you don't know how human procrastination works? it doesn't matter that the deadline got pushed back, people will put it off based upon the new deadline....not the 2 days..then theres the added risk of simply forgetting with a longer rent period. u can be damn sure the weasels at bb headquarters know this.

 

[Mayfriday0529]

From FAQ

1. What are the full movie and game rental terms now that BLOCKBUSTER® has stopped charging late fees?

A: Movie and game rentals are due back at the date and time stated on the transaction receipt. There is no additional charge if a member keeps a rental item beyond the pre-paid rental period. However, if a member chooses to keep a rental item more than a week after the end of the rental period, Blockbuster will automatically convert the rental to a sale on the eight (8th) day after the end of the rental period. Blockbuster will charge the membership account the selling price for the item in effect at the time of the rental. The selling price will be discounted by the amount of the initial rental fee paid by the member at the time of rental. If the member returns the item within 30 days of the sale date, Blockbuster will credit back to the membership account the amount previously charged to the member?s account or the member?s credit card, as applicable, for the selling price of the item, but the member will be charged a minimal restocking fee. All rental items must be returned to the proper BLOCKBUSTER® store. These rental terms are subject to change without notice at any time. Participating stores only. Additional membership rules apply for rentals. See participating BLOCKBUSTER store for details.

11. Aren't you worried that you won't have enough movies and games if everyone keeps their rentals longer?

A: We will be carefully monitoring the movie and game selection to make sure we maintain our current levels of product availability for you. However, it's in everyone's best interest to return their rentals by the due date, even with the end of late fees, to ensure that we have the movies and games you want to rent, available when you want to rent them.