Family Video

Family Video Movie Club Inc. is an American video rental chain located in the United States and Canada. The family-owned company is headquartered in Glenview, Illinois, and has approximately 550 stores in North America with the heaviest concentration in the Midwest.

Family Video Movie Club, Inc.
Private
IndustryVideo rental
Founded1978
HeadquartersGlenview, Illinois, United States
Area served
US, Canada
Key people
Charles Hoogland, CEO
Keith Hoogland, President
Eric Hoogland, Vice-President
OwnerHighland Ventures
Number of employees
Over 7,000
Websitewww.familyvideo.com
Family Video location in Commerce, Texas

History

In 1946, Clarence Hoogland founded Midstates Appliance and Supply Company. His son Charles Hoogland inherited the business in 1953. The company later became a distributor for Magnetic Video.[1] After getting stuck with a large inventory of excess video movies in the late 1970s, Charles had the idea to start the Video Movie Club in Springfield, Illinois in 1978. The club originally charged a $25 membership fee and $5 per rental and later evolved into Family Video.[2]

Because Blockbuster's main focus was larger cities, Family Video decided to establish themselves mostly in rural areas, suburbs, and small and midsize cities instead.[3]

In 2003, Family Video relocated its headquarters from Springfield to Glenview, Illinois. By 2013, Blockbuster closed almost all of its remaining stores. By the end of 2016, Hastings Entertainment liquidated, making Family Video the sole-surviving video rental chain in the United States.[4][5]

In addition to the brick and mortar store front, Family Video has branched off into other markets such as real estate, 24-hour fitness centers, cell phones, and cable television.[6] The company also sells new and previously used items online.[7] Family Video expanded into the Canadian market in 2012.[8]

In 2013, following the continued decline of competing video rental stores, Family Video formed a partnership with Marco's Pizza providing space for the franchise in many of its stores. The company is using the partnership as a way to deliver video rentals with pizza orders. Family Video also leases space to other retailers such as hair salons and fitness centers.[9][10] Unlike much of its competition, Family Video owns the real estate housing their stores, helping them to avoid unsuccessful lease negotiations that led to the demise of Blockbuster and Movie Gallery, which includes Hollywood Video.[11] And rather than depending on the revenue-sharing model used by others in the business, the chain buys and owns their movies, allowing them to keep all the rental profit.[12] In addition, it owns a fiber-optic network in the Central Illinois region, called iTV-3,[13] as well as a small chain of fitness centers named StayFit-24.

gollark: I guess I could procgen borders and box shadows and such.
gollark: How would you suggest I alter it exactly? It probably wouldn't make much sense to arbitrarily split the experiments into differently formatted bits.
gollark: But really, you can read alphabetically and it works.
gollark: I suppose it's possible that most users aren't exposed to the colours enough that they learn to associate them with anything usefully.
gollark: 2021ish?

References
  1. "UIS receives $1 million gift for new recreation and fitness center". Archived from the original on 2014-03-09. Retrieved 2014-03-09.
  2. "Industry History | entertainment merchants association | Jennifer Lane Burnell". www.entmerch.org. Retrieved 2019-06-07.
  3. Shropshire, Corilyn. "For Family Video, renting movies is the past, present and definitely part of the future". chicagotribune.com. Retrieved 2019-06-07.
  4. "Blockbuster to close about 300 stores in U.S." Los Angeles Times. January 22, 2013. Retrieved February 26, 2013.
  5. "Dish Network to close 500 Blockbuster stores". Associated Press. February 24, 2012. Retrieved September 10, 2012.
  6. "Chain with Illinois roots still growing after video-rental competitors stumble". TMC News. August 15, 2011. Retrieved September 10, 2012.
  7. The State Journal-Register
  8. Wolter, Owen (January 17, 2012). "Opening Soon: Family Video Movie Rental Store at Tecumseh and Hall". City News. Retrieved September 10, 2012.
  9. Landis, Tim (February 6, 2013). "Family Video president sees continued growth". GateHouse Media Inc. Retrieved February 26, 2013.
  10. Penzenstadler, Nick. "Movie chain adds pizza to fight streaming wave". USA Today. Retrieved 31 January 2014.
  11. Briggs, James (January 15, 2016). "Video stores still 'alive and well' in Indy". Indianapolis Star. Retrieved January 15, 2016.
  12. writer, Micah Mertes / World-Herald staff. "How Family Video stays afloat when bigger chains didn't". Omaha.com. Retrieved 2019-06-07.
  13. Woodside, Nathan. "Provider Spotlight: iTV-3 Expanding Fiber to the Home Service in Central Illinois".
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.