Is Wal-Mart Robbing the Poor to Pay the Rich?

Wal-Mart announced this week that it wants to take your movie collection online. But is it good business? Or a gimmick designed to extract money from clueless consumers?
In previous years, many criticized Wal-Mart (NYSE:
WMT
overly enthusiastic press release
. “Wal-Mart is giving physical DVD/Blu-ray collections across the country a second life by turning them into digital movies.” Hmm, that's odd. Since when do DVDs and Blu-ray discs need a “second” life? Aren't they
still
on the market? Aren't DVD players
still
being sold? Don't our old DVDs
still
play like new? Based on Wal-Mart's announcement, you would think that DVDs were obsolete. But not even Netflix (NASDAQ:
NFLX
) has been able to
kill off the disc-based entertainment medium
NFLX
legally purchased
movies on DVD. There aren't many of us, you know. Far too many consumers pirate the films they watch.
This brilliant comic
illustrates some of the reasons why. But despite the hassle of buying legitimate copies of new films, I still do it. Why? Not just because I want to support the men and women who make movies, but also because it's the
right thing to do
an enormous rip-off
Follow me @LouisBedigian
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