Why did Blockbuster collapse after making $800 million from late fees?

Why did Blockbuster collapse after making $800 million from late fees?

Business Insider’s “The Rise And Fall Of Blockbuster” explains how Blockbuster grew from one Dallas store in 1985 into a 9,000-store video-rental giant, then collapsed after missing or delaying shifts to DVD-by-mail, video-on-demand, and streaming while clinging to profitable physical stores and late fees.