BlockBuster/Virgin MegaStore

The media retails stores are struggling in today's economy. BlockBuster could go into bankruptcy and Virgin MegaStore are shutting down their stores. One of the reasons for the failure of theior businesses are that they have outdated business models. The internet has added a new dimension into buying or renting media products. People are finding it convenient to buy products online with a cheaper price. For instance CDs cost around 20 dollars in the stores whereas people can buy them for half the price on i-tunes. In the near future both these companies will be shutting down their stores. In my opinion my reason to why both theses companies are failing is the fact they did not adapt quickly enough to technological advances and the current economy does not help.