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, 8 million deal with the kiosk operator, and the agreement appears to be bearing fruit.
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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?
(via Seeking Alpha and Home Media Magazine)
Fox, Universal, Warner, adapt or DIE!
Theses are not my words…its the words of Blockbuster CEO.
Lionsgate has only 5% market share. Not exactly a major player in the game.
Joe, You are correct…but if a boycott on the Big 3 and an increase in financial purchases of Lionsgate and other Indie Film companies kicks in, the share moves up and the Big 3 lose money…as will Blockbuster and Hollywood/Movie Gallery.
Those titles were never going to be big sellers in the first place. Lionsgate did a smart thing getting 50% better coverage from Redbox than their market share implied.
If Redbox had offered Warner an extra 50% I’m pretty sure Warner would have said sure too.
Lionsgate has about as much financial trouble as Blockbuster. They’re losing millions of dollars almost every quarter.
Redbox and Netflix tried to appeal to Warner’s greed, but can’t match up to the monster’s desire. That is why we are forced to wait 28 days…I say don’t wait…I say Don’t Rent. Don’t Buy. Don’t waste your money on the fat cats. Boycott.
Adaptation is necessary for survival. This applies to nature and business.
Change is good. Universal, FOX and WB take note.
Redbox does not have enough space left in their machines to be able to offer the same deal to the big 3 as they did the little players in the market.
This was a mistake made by Redbox, not the big 3.
It is costing Redbox 15-20 million dollars a quarter right now (their numbers, not mine; my numbers say it is worse than that).
Redbox is the one that needs to adapt. Otherwise they will go bankrupt and everyone will be forced to go back to the few remaining Blockbusters or indies.
The mistake is by the consumer. We have created the giants who now hold us by the huevos. We can make a change by boycotting the big 3 at the box office, rental stores, and dvd sales.