Redbox just reported its Q2 numbers, which were a mixed bag. Operating income was up nearly 15 percent, but overall revenue and rental transactions dropped. Now the CFO of Redbox’s parent company is trying to set lower expectations for the coming quarter.
Galen Smith, CFO of Redbox parent Outerwall, said that August and September are going to be pretty light on new releases, which make up the majority of Redbox’s rentals.
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The box office for the quarter is also expected to be low, which always affects Redbox rentals when the movies come out a few months later.
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Said Smith:
“The Q3 box office is looking particularly weak. It’s the lowest box office that I can remember in a long time. It’s important to note that Q3 is expected to be our lowest quarter of the year from a Redbox perspective,”
Will Redbox be able to push through this upcoming rough quarter and have a robust holiday seasons, or is the company in trouble?
[via Home Media Magazine]
RedBox is in Trouble. And they know it……And its not going to get much better…
They have NO streaming set up. And the new releases are 95% trash.
They do have some good old Movies. But few. They are bleading money.
Closing Box’s Letting people go. Moving to a smaller place to run everything.
They are doing a Block Buster number. Block Buster did all this also..
And RedBox is doing it now.. The RedBox ship is sinking. But how long until it goes under? But maybe just Maybe some big Co will step in and save the day?
Only time will tell. They have closed a few Box’s around here by me..
Had about 10 With in 5 miles of me.. Now about 6… I think a few more will go soon. Only time will tell.
Was reading about RedBox on the net today. Sales are down 13% on the disc rentals. And the price hike. If things keep up like this for RedBox. With in a year are so. They will be spending more then they are taking in. RedBox is going the Block Buster way. They are doing everything Block Buster did. Trying new things.This & that.. And we all know what happend to B/B.
Yes millions still want the disc in hand to watch the movies & TV shows.
I do… But RedBox can’t keep up with NetFlix… RedBox will need to do some real good foot work if they are going to make it..
Hollywood needs to put out some decent stuff – hasn’t been many decent movies over the last 2 years. Whats going on HOLLYWOOD ?!?!? Hey you should remake some of your latest remakes… Or come out with a 6th or 7th sequel to some crap that should have stopped at the 2nd sequel. Anyone up for Scary Movie 6 or Paranormal Activity 45 (or whatever it is now)… Geez..
Really now. You should know by now. Idiot wood can’t do anything new anymore. All they can do is make a remake of a remake of last years remake… And Batman 55. And more trash & crap.
Best thing to do. Is get your own deal going. Set up your own home theater.
Get NetFlix & Hulu.And Warner Archives. Buy the DVDs you want. Stream what you want..
And don’t count on anything new worth sh%$ to come out.
Just go for the great old stuff. That is worth watching..