Hollywood Video was founded in 1988 by Mark Wattles.
By 1993 the company had 16 stores. That same year, Hollywood Video became a public company, trading on the NASDAQ under the symbol HLYW. This initial public offering netted the company over $10 million.
By 1998 the company had 1,000 stores in 43 states and was the second biggest video rental and retailer in the United States after Blockbuster Entertainment.
Hollywood Video was bought by Movie Gallery in 2005.
The rise of Hollywood Video was the rise of the popularity of home movie rentals.
With the increasing popularity of services such as on-demand, Netflix, and $1 rentals in grocery stores, video rental businesses were unable to remain profitable.
With hundreds of millions of dollars in liabilities, Movie Gallery filed for Chapter 7 Bankruptcy in 2010.
Hollywood Video
Hollywood Video was founded in 1988 by Mark Wattles.
By 1993 the company had 16 stores. That same year, Hollywood Video became a public company, trading on the NASDAQ under the symbol HLYW. This initial public offering netted the company over $10 million.
By 1998 the company had 1,000 stores in 43 states and was the second biggest video rental and retailer in the United States after Blockbuster Entertainment.
History
Hollywood Video was bought by Movie Gallery in 2005.
The rise of Hollywood Video was the rise of the popularity of home movie rentals.
With the increasing popularity of services such as on-demand, Netflix, and $1 rentals in grocery stores, video rental businesses were unable to remain profitable.
With hundreds of millions of dollars in liabilities, Movie Gallery filed for Chapter 7 Bankruptcy in 2010.
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