The Hollywood Three get so much coverage on this site that we sometimes overlook the fact that not all of the studios are opposed to Redbox. Lionsgate, for example, has signed a five-year, $158 million deal with the kiosk operator, and the agreement appears to be bearing fruit. During a recent call with investors, Lionsgate CEO Jon Feltheimer said that the first two new titles released to Redbox under the terms of the deal, Crank 2 and Gamer, were converting above 145% of box office with no impact on disc sellthough.
Discussing the success of the first two titles of the Redbox deal, Felthiemer said the following:
“Last year we made a call that went against the grain on Redbox and it’s working for our product.”
Will certain other studios take note of Lionsgate’s attitude and mutually beneficial arrangement with Redbox, Insiders? Or will they decide that there’s too much money—and ego—at stake in their legal battles to budge now?