Despite a gloomy recent financial report from its parent company, Coinstar, Redbox has had some positive news lately. The kiosk renter closed out 2012 with a 45 percent share of the movie disc rental market, which is more than double the market share of by-mail and online disc renters. Many Redbox kiosks will also be increasing their disc capacities by about 80 discs this year.
A major boost to Redbox’s bottom line was the growing percentage of Blu-ray disc rentals at its kiosks. 12.5 percent of Redbox Q4 revenue came from Blu-ray, which is more than double that of the same period a year before. Coinstar CEO Paul Davis is very optimistic about the high-def format’s future with Redbox:
“What gives us a lot of optimism [is] there are a lot of things to point to that will unfold over the course of the year . . . First is that Blu-ray as a percentage will continue to grow . . . We are uniquely positioned to take advantage of the increased acceptance of Blu-ray given our value price point and marketing assets, which we plan to further leverage to help consumers discover and explore the format,”
Are you optimistic about Redbox’s future, Insiders?
[via Home Media Magazine]