Description

In December 1977, George Atkinson spent approximately $3,000 to buy one Betamax and one VHS copy of each of the 50 available movie titles from Magnetic Video, which were then being sold to the public by direct mail. He announced the availability of the videos for rent in the local newspaper under the business name ‘Video for Rent’ along with a coupon for readers to fill out and mail in. Atkinson renamed his operation ‘The Video Station’ and opened what would be the first professionally managed video rental store in a 600 square foot storefront on Wilshire Boulevard in Los Angeles. In order to raise capital, Atkinson charged $50 for an annual membership and $100 for a lifetime, which provided the opportunity to rent the videos at a discount.