Blaming a weak lineup of movies coming to DVD, Redbox turned in some disappointing results for the second quarter.
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Company operating income dropped from 7.
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2 million in the same period last year to $83.5 million.

To help shore up its fortunes, Redbox will be testing price increases for both DVDs and Blu-rays in several markets through the end of the year.

 Scott Di Valerio, CEO of Redbox parent company Outerwall, said the following about the rough quearter:

“June represented the lowest monthly theatrical box office in Redbox history . . . Box office in June was down 83% from June 2013 as only four titles were released during the month. While the release schedule was not compelling for consumers during the quarter, consumer engagement with Redbox remained strong as demonstrated by a significant year-over-year increase in email open rates, email subscribers and Redbox app downloads.”

Is Valerio right, and Redbox just needs a stronger lineup of movie releases to get back on form?

[via Home Media Magazine]