The main focus of this work is the strategy of learning from failure, its characteristics, features, benefits, barriers and implementation in practice. Learning involves the acquisition of information, knowledge, understanding and wisdom through the transformation of the individual into the collective knowledge. Therefore, it can be said that learning requires embracing new information, innovation and knowledge of individuals into organizational theory, culture and normative value system. Organizational learning refers to the organization that by using knowledge, information and lessons learned from operations of all employees, manages its current behavior and actions. It is the ability of the company to completely detect errors, correct them and to change the basis of organizational knowledge and values to generate a new problem-solving skills and new operating procedures. Depending on the organization's ability to learn from each others failures, the organization is better or worse adapted to the changing environment and challenges in business. Through an example of home entertainment industry, known for significant changes imposed by accelerating the adjustment and reaction speed, operations of two companies, Blockbuster and Netflix are being watched. The operation of the most important companies in the video rental and TV streaming industry in the US reveal the reasons for the collapse of Blockbuster after 20 years successfully operating, and the reasons for the success of Netflix. It is noted that companies that do not learn from their failures are not sustainable in the long run and their business is doomed to fail. The only way that companies can effectively recover from the failure and its consequences is to learn from them. The strategy of learning from failure is the only way to a long-term viability and success of the business.