Long-time Insiders will remember the quaint times when a Redbox DVD rental cost just a buck a night, as compared to .
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20 these days. The current price, however, may soon become a memory if Redbox’s current pricing model tests pan out.
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According to J. Scott Di Valerio, Redbox parent Outerwall’s CEO, Redbox is in the middle of testing new pricing models that it hopes could eventually become permanent and increase its operating income. Said Di Valerio:
“We do bits and pieces of price testing all the time, and we’ll do more price testing,”
Redbox currently charges $1.20 a night for a DVD and $1.50 for a Blu-ray Disc. What do you think a fair price increase (if any) would be?
[via Home Media Magazine]
I’ll admit it, I’m cheap! I preferred Redbox rentals when they were $1. I rarely rent them now that they’ve gone up to $1.20. If they raise the price, I doubt I’d ever rent them again.
Our library has a wonderful selection of DVDs, so I am perfectly happy getting DVDs there.
So they’re considering doing away with the practices that made them?
Sure some people will continue to rent from them, but many will stop…they’ll just turn into a blockbuster video if they increase their prices.
If Red Box does go up a little, I probably would still rent it for say $1.50 DVD, but what I would like to have is a 2 day rental instead of just a one day. Sometimes, I have to rush to watch the movie or turn it back in and not even get to see it. So, my opinion is if you do go up……add a day for us to keep the movie out. That would help me a lot! Thanks
No more than $1.50 for a DVD, unless they are out of stock at my video store.
Ever since the lawsuit preventing Redbox from renting most of the New Releases at the same time as video stores, I have very little use for Redbox anyway.
YEA THATS THE AMERICAN WAY KEEP YOUR PRICES LOW SO YOU CAN PUT THE BIG RENT PLACES OUT OF BUSN. AND THEN RAISE YOUR WHEN YOU WANT TO BUT LITTLE AT A TIME , I GET IT NOW. SO IF YOU RAISE YOUR PRICES WE WILL GET OUR MOVIES ELSE WHERE LIKE THE LIBRARY THEY HAVE A GOOD SELECTION OF MOVIES SOMETIMES YOU HAVE TO WAIT BUT THATS OK BY ME I GO TO REDBOX AND MOST OF THE TIME YOUR MOVIE IS OUT ANYWAY SO I WAIT. GO UP ON YOUR PRICES AGAIN I SAY SEE YA
$1.25 per day for a DVD would be OK. It’s the “Boil the frog at a very slow pace” pricing theory.
It always amazes me that the shareholders always seem to kill the golden goose. At $1.50 I will stop renting from them and just keep my Netflix to the house and streaming. Another one will bite the dust within 2 years I think
$1.50 per night would be reasonable IF we did not have to wait a month for new releases. The month wait drives the value of Redbox way down. Anything over $1.50 for a month old “new release” and I will shop elsewhere.
The current rate of $1.20 seems reasonable. (When Redbox first came on the scene, I was amazed they were only charging $1.00.)
I’d have no problem if they raise the price to $1.25 or even $1.50. It would still be a good deal for me.
I’m not a big fan of the price increase. I don’t rent as many as I use to when they were $1.00 and it will probably be even fewer rentals for me if it does go up. I understand its a business and every business wants to increase profits, but if it raises the price over $1.50, it will likely hurt them to the point they wished they hadn’t.
Since the price has increased to 1.20–I rarely rent DVDs any more. If the price goes up, you won’t be getting my business. Raising prices is counter-productive when you lose customers. That’s just a slow road to going out of business. I once worked for a multi-millionaire who owned a wholesale business. He would sell most of his products for only .05 to .08 cents (each) over his purchase price. When I asked him why he only marked things up so little, he explained his wisdom:
“You put high mark-up–not many people buy. What good is it to me if product sits on shelf? You mark up .05-.08 cents–customer gets good deal. Customer is happy, so they buy lots. Then they go mark up a little and sell the hell out of it, then come back for more! Product moves off shelf faster–I get newer products–and they come back again and again.” You just can’t argue that wisdom. More customers and repeat customers—that’s how you stay in business and make a profit.
My local video store only charges $2.00 for older titles and I can keep for 7 days. The next step up is equivalent to RedBox selection and is $3.00 and I can keep for 5 days. Their selection is better than RedBox too. They have 4 RedBox kiosks within a mile of their location and have had to compete to survive. Recently added a take out pizza joint. If order a delivery, when they bring your pizza they will pick up your videos and return then for you too. I don’t even go to RedBox any more now. I just don’t want them to raise prices because my video store will probably match the increase!