| BLU-RAY NEWS TAGGED "HIGH-DEF RENTALS" | Receive Blu-ray News via RSS |  |
Redbox Revenue is Up Again
Tue Aug 02, 2011 at 02:30 PM ETTags: Redbox, Rentals, Industry Trends, High-Def Rentals (all tags)
Hey, what do you know? Redbox is making money hand over fist, just like Redbox does.
So you might have picked up on this already, but Redbox is very good at making money. Not just at making money, but making lots of money. More money than most people - most companies even - will see in their lives.
The latest earnings report from the company shows that revenue is up 33.8 percent in the second quarter of 2011. It's not just new kiosks that increased the company's earnings either - kiosks rented an average of 16.8 percent more discs.
Redbox president Mitch Lowe says that the popularity of Redbox for movies and games means more than just money for the company. " More than 1.5 billion movie rentals and the positive consumer reaction to video games highlight the ongoing demand for physical media," he says.
Source: Home Media Magazine
See what people are saying about this story in our forums area, or check out other recent discussions.
More Blu-ray In The Immediate Future For Redbox
Thu Aug 06, 2009 at 04:00 PM ETTags: High-Def Rentals, Redbox (all tags)
Record profits spur expansion for the increasingly popular rental service.
In 2008, Coinstar made $73 million in profit from Redbox kiosks. In the first half of 2009, they’ve made $58 million. That’s around eighty percent of the money in just half the time, and it leaves Redbox execs wanting only one thing: MORE!
In a conference call with investors on August 4th, Redbox chairman Paul Davis stated that both video games and Blu-ray discs were in the immediate future for Redbox. Said Davis, “We plan to extend the current product offering by testing video games, Blu-ray, and a broader title base.”
He also spoke on the recent deal with Sony Pictures, which sees Redbox stocking about 20% Sony DVDs and giving up reselling rights, meaning that when the discs are done being rented, they will be destroyed. “We wouldn’t do deals that we didn’t believe were margin/dollar positive at the end of the day.”
Those interested can read the entire transcript of the call here.
See what people are saying about this story in our forums area, or check out other recent discussions.
Sony Inks Deal With Redbox For Distribution
Tue Jul 28, 2009 at 02:00 PM ETTags: High-Def Rentals, Sony, Redbox (all tags)
Yet Blu-ray mention remains curiously absent...
Redbox automated kiosks are ever increasing their presence. They can be found in Walmart, Walgreens, and even McDonald’s locations around the globe. Now, thanks do a deal with Sony, they’re increasing their selection.
The new deal, announced in a press release last week, will allow Redbox access to Sony Pictures Home Entertainment titles, both new releases and classics. “Our consumers have always been the best barometer of where our business needs to go, and clearly Redbox has become an important distribution option,” said David Bishop of the arrangement.
Curiously absent though, was the mention of Blu-ray discs. It’d be hard to believe that Sony doesn’t want their Blu-rays in Redbox kiosks across America, perhaps we’ll see more as this develops.
See what people are saying about this story in our forums area, or check out other recent discussions.
Sony Inks Deal With Redbox For Distribution
Tue Jul 28, 2009 at 02:00 PM ETTags: High-Def Rentals, Sony, Redbox (all tags)
Yet Blu-ray mention remains curiously absent...
Redbox automated kiosks are ever increasing their presence. They can be found in Walmart, Walgreens, and even McDonald’s locations around the globe. Now, thanks do a deal with Sony, they’re increasing their selection.
The new deal, announced in a press release last week, will allow Redbox access to Sony Pictures Home Entertainment titles, both new releases and classics. “Our consumers have always been the best barometer of where our business needs to go, and clearly Redbox has become an important distribution option,” said David Bishop of the arrangement.
Curiously absent though, was the mention of Blu-ray discs. It’d be hard to believe that Sony doesn’t want their Blu-rays in Redbox kiosks across America, perhaps we’ll see more as this develops.
See what people are saying about this story in our forums area, or check out other recent discussions.
» High-Def Digest home page
