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Typically used as an alternative for those of the older generation who are still stuck in 20th century, but still want to ask their partner to "Netflix and chill." Instead of committing to a $8.99 per month subscription for Netflix to have sexual relations with one's partner(s), by "making it a blockbuster night" they are only submitting a one time lesser payment for a movie. This movie will be an extremely boring one, but it serves simply to provide background noise while the 2 (or more) engage in sexual relations.
Old Partner 1: Hey girl(s), you sure turn me on. Netflix and chill?

Old Partner(s) 2: I'd/we'd love to, but $8.99 per month is too expensive. Let's make it a Blockbuster night!

Old Partner 1: Wow, what a great idea! That way, we don't have to adapt to today's standards of movie watching, and we don't have to pay $8.99 per month for a Netflix subscription!

**Proceeds to rent a boring movie from Blockbuster and retires to the host's house**
by A tortured student March 09, 2016
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