Hollywood Video
A typical Hollywood Video store in San Lorenzo, California in 2007 | |
| Hollywood Video | |
| Company type | Public |
| Nasdaq: HLYW | |
| Industry | Retail |
| Founded | June 1988, in Portland, Oregon, United States |
| Founder | Mark Wattles |
| Defunct | July 31, 2010 (United States of America) August 8, 2010 (Canada) |
| Fate | Chapter 7 bankruptcy Liquidation sale |
| Headquarters | Wilsonville, Oregon, United States |
Number of locations | 1,900 (2010) |
| Products | VHS, DVD, Blu-ray, and video game rentals and sales |
| Parent | Movie Gallery |
| Subsidiaries | GameCrazy Hollywood Entertainment |
| Website | HollywoodVideo.com |
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 would introduce DVD rentals in their stores, being the first to do so, 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, though the last entry was made on October 14, 2014.