Blockbuster online business shows little growth
Tue Nov 8, 2005 10:52 AM ET
LOS ANGELES, Nov 8 (Reuters) - Blockbuster Inc. (BBI.N: Quote, Profile, Research) said on Tuesday its online business showed little growth in the third quarter, with total subscribers holding steady at about 1 million.
Chief Financial Officer Larry Zine said the year-old business was affected by the company's decision to cut back on marketing spending during the quarter.
The company said it is still committed to reaching 2 million subscribers for the business during 2006 and believes the service will be profitable in 2007.