What is this – some studios are coming to their senses? For the second time in 24 hours, Redbox has been praised by a studio exec. Who was it this time?
The answer: Jeffrey Katzenberg of Dreamworks Animation.
“For us, they’re great – bring them on,” said Katzenberg, Dreamworks Founder and CEO.
Katzenberg is one of Hollywood’s biggest names – and a modern studio success story. The 15 year-old studio was started by Katzenberg, Steven Spielberg and David Geffen back in 1994. Since its inception it has seen major successes with nearly every film it has released. You may recognize some of them: Antz (1998), The Prince of Egypt (1998), Shrek (2001), its sequels Shrek 2 (2004) and Shrek the Third (2007); Shark Tale (2004), Madagascar (2005), Over the Hedge (2006), Flushed Away (2006), Bee Movie (2007), Kung Fu Panda (2008), and, most recently, Monsters vs Aliens (2009).
When the leader of such a successful studio speaks up for Redbox, maybe things aren’t quite as bad as some other studios are making them seem. Either that, or the other studios just put out crap movies and can’t stand on there own without being propped up by overpriced rentals and DVD sales.
For DreamWorks, Mr. Katzenberg said Redbox displays a “sharply higher conversion rate from rental to purchase” than other rental companies (Blockbuster, Netflix). In other words, Redbox is actually serving as a sales agent for the studio’s animated titles: People are renting films like “Madagascar: Escape 2 Africa” for $1 and deciding they want to own them.
What, a higher conversion rate than Blockbuster? My, oh my, that is some pretty strong support right there.
So, instead of fighting Redbox, maybe it is time for the other studios to start putting out better movies. A novel idea, I know.
What do you think: Can this positive press from a such a successful studio give Redbox just the boost they need to make it through all of this? Can other studios actually make good films? Let us know in the comments.