It’s starting to look like Blockbuster, the once video-rental juggernaut, might need to change its name to Flopbuster as the company reports yet another dismal quarter.  With a rapidly deteriorating performance how long can Blockbuster survive?  After years of battling Netflix and new systems like Redbox, it made several failed attempts to dig its way out of financial losses. Now, Blockbuster may be faced with bankruptcy or worse liquidation.

Any hope for the company's revival already seem DOA after the company claims its 2009 loss could be as large as $193 million.  Efforts to up revenue with a new ad campaign and a larger DVD inventory failed to stimulate customers into more rentals, CEO Jim Keyes said.

“Over the longer term, it appears that customers are happy with the choice of convenience offered by Netflix and low price offered by Redbox, leaving Blockbuster with the waning customer base that desires broad selection (not offered by Redbox) and immediate gratification (not offered by Netflix) at full price.”

Adding irony to injury, back in 2000 Blockbuster had the option to buy Netflix for $50 million.  Netflix now is worth $2.8 billion.  The company passed because executives thought Netflix was losing too much money.  Instead, the video chain decided it would attempt to price Netflix out of business with a DVD-by-mail business that never quite put a dent in Netflix’s growth.  It did, however, bleed Blockbuster of capital and profits.