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Hollywood Video
Hollywood Entertainment Corp., more commonly known as Hollywood Video, was an American video rental store chain based in Wilsonville, Oregon. Founded by Mark Wattles in 1988, the chain would quickly expand following the company's initial public offering in 1993, which led to them being the largest direct competitor to Blockbuster in the urban market.
Towards the end of the 1990s, Hollywood Video was the first major chain to introduce DVD rentals in their stores, and would expand into the internet with the purchase of Reel.com in July 1998. However, following the rise of video on demand services in the early 2000s, the company began to experience losses. As a result, the company would establish GameCrazy, a video game retailer, in an attempt to enter the video game market.
Following a hostile takeover attempt by Blockbuster, Hollywood Entertainment Corp. would merge with Movie Gallery, Inc. for $1.2 billion in April 2005. While this acquisition initially boosted Movie Gallery's profits, the newly assumed debt would contribute to the company's bankruptcy, and eventual liquidation in 2010.
In December 2011, the chain's website would relaunch as an entertainment news blog. The website remains active, with several entries being made in 2025.
In 1984, Mark Wattles left college and was struggling financially. Wattles' parents had given him and his wife a VCR, which they used as a form of low-cost entertainment. Wattles later said: "I thought, 'There must be other people in America in the same shoes. I think this would be a great business." In 1985, Wattles borrowed money so he could open Home Theater, a 500 square-foot video rental store with 300 films, located in downtown Portland, Oregon. Three years later in 1988, Wattles formed Hollywood Entertainment and served as the company's president and chief executive. Hollywood Video stores later opened in Washington, California, Nevada, and Texas.
In 1993, Hollywood, which operated 16 stores, became a public company. As of 1994, the average Hollywood Video store was 7,500 square feet with 16,000 video tapes. In some instances, the company ordered up to 70 copies of a popular film for each store, while some stores stocked up to 200 copies of a single film. At that time, each store generated approximately $1 million (~$1.87 million in 2024), while 78 additional stores were planned to open in 1995.
In January 1995, Blockbuster filed a $10 million lawsuit against Hollywood Entertainment for hiring five former Blockbuster employees. Blockbuster alleged that the employees knew some of the company's trade secrets, which could be used to aid Hollywood Entertainment. At the time, Hollywood Video had 117 stores, compared to Blockbuster's 2,800 stores. Hollywood Video was ranked fourth in national sales. In May 1995, a judge ruled in favor of Hollywood Entertainment, stating that Blockbuster had failed to demonstrate irreparable harm as a result of the hiring.
In June 1995, Hollywood Entertainment had 153 stores in 11 states. The company's locations included stores operating under the Video Park and Video Central names. That month, Hollywood Entertainment announced plans to triple the number of stores by late 1997. In August 1995, Hollywood Entertainment purchased the 42-store Video Watch chain in the mid-western United States for $59 million (~$111 million in 2024). Video Watch was the last of four video rental chains that had been targeted by Hollywood Entertainment for purchase. In November 1995, Hollywood Entertainment announced plans to open 90 stores in Michigan over the next three years. The company also planned to open more than 200 stores in 1996.
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Hollywood Video
Hollywood Entertainment Corp., more commonly known as Hollywood Video, was an American video rental store chain based in Wilsonville, Oregon. Founded by Mark Wattles in 1988, the chain would quickly expand following the company's initial public offering in 1993, which led to them being the largest direct competitor to Blockbuster in the urban market.
Towards the end of the 1990s, Hollywood Video was the first major chain to introduce DVD rentals in their stores, and would expand into the internet with the purchase of Reel.com in July 1998. However, following the rise of video on demand services in the early 2000s, the company began to experience losses. As a result, the company would establish GameCrazy, a video game retailer, in an attempt to enter the video game market.
Following a hostile takeover attempt by Blockbuster, Hollywood Entertainment Corp. would merge with Movie Gallery, Inc. for $1.2 billion in April 2005. While this acquisition initially boosted Movie Gallery's profits, the newly assumed debt would contribute to the company's bankruptcy, and eventual liquidation in 2010.
In December 2011, the chain's website would relaunch as an entertainment news blog. The website remains active, with several entries being made in 2025.
In 1984, Mark Wattles left college and was struggling financially. Wattles' parents had given him and his wife a VCR, which they used as a form of low-cost entertainment. Wattles later said: "I thought, 'There must be other people in America in the same shoes. I think this would be a great business." In 1985, Wattles borrowed money so he could open Home Theater, a 500 square-foot video rental store with 300 films, located in downtown Portland, Oregon. Three years later in 1988, Wattles formed Hollywood Entertainment and served as the company's president and chief executive. Hollywood Video stores later opened in Washington, California, Nevada, and Texas.
In 1993, Hollywood, which operated 16 stores, became a public company. As of 1994, the average Hollywood Video store was 7,500 square feet with 16,000 video tapes. In some instances, the company ordered up to 70 copies of a popular film for each store, while some stores stocked up to 200 copies of a single film. At that time, each store generated approximately $1 million (~$1.87 million in 2024), while 78 additional stores were planned to open in 1995.
In January 1995, Blockbuster filed a $10 million lawsuit against Hollywood Entertainment for hiring five former Blockbuster employees. Blockbuster alleged that the employees knew some of the company's trade secrets, which could be used to aid Hollywood Entertainment. At the time, Hollywood Video had 117 stores, compared to Blockbuster's 2,800 stores. Hollywood Video was ranked fourth in national sales. In May 1995, a judge ruled in favor of Hollywood Entertainment, stating that Blockbuster had failed to demonstrate irreparable harm as a result of the hiring.
In June 1995, Hollywood Entertainment had 153 stores in 11 states. The company's locations included stores operating under the Video Park and Video Central names. That month, Hollywood Entertainment announced plans to triple the number of stores by late 1997. In August 1995, Hollywood Entertainment purchased the 42-store Video Watch chain in the mid-western United States for $59 million (~$111 million in 2024). Video Watch was the last of four video rental chains that had been targeted by Hollywood Entertainment for purchase. In November 1995, Hollywood Entertainment announced plans to open 90 stores in Michigan over the next three years. The company also planned to open more than 200 stores in 1996.