Kodak had been one of the most recognised brand names of the 20th Century along with the likes of Ford and McDonald’s. Neil Armstrong bought the first pictures of the moon to the world on a Kodak camera. To many people of a certain age Kodak and capturing memories were entwined, the term Kodak Moments became a widely used phrase.
Every year since it opened in on November 9, 2001 The Kodak Theatre has been the home of the Academy Awards with a seating capacity of 3,400 and the largest Stage in any Theatre in the United States the Kodak Company paid $75 million to have its name associated with the building. It ironic to think that by the 2013 Oscars come around the company may not exist.
Although Kodak had made the first digital camera they had moved their focus away from camera production to developing and printing of images. Up to the late 1970’s the company had a 90% market share of photographic film sales in the United States, Kodak were the premium brand.
With the arrival of the digital age Kodak failed to adapt its business model to a rapidly changing market; it was a dominant player in a market that had becoming obsolete. Despite major restructuring of the company including tens of thousands of job losses it failed to reinvent itself and its fate looks similar to vinyl records. The company failed to make a profit since 2007 and not surprising that this morning it has filed for bankruptcy protection.
© Tom Dowling
Categories: Film and TV