Halloween’s going to be a little scarier this year for millions of consumers—Redbox has announced an across-the-board price increase for its DVD rentals beginning October 31. Under the new pricing, DVDs will now cost $1.20 per night, while Blu-rays and video games will remain at their respective price points of $1.50 and $2.
Coinstar CEO broke the news during the Redbox parent company’s Q3 earnings call:
”We remain committed to providing Redbox consumers access to the latest movies at an incredible value. This marks the first price increase for a Redbox standard definition DVD rental in eight years . . . The change is primarily due to the increase in operating expenses, including the recent increase in debit card interchange fees as a result of the Durbin Amendment . . . We didn’t make the decision lightly,”
Revenue was up 22.5 percent year over year, and profit increased to $37.1 million. The numbers, while in line with Wall Street’s estimates, were disappointing to many who believed that Redbox would receive a larger boost from defecting Netflix customers.
Now the big question, Insiders: Will an increase of 20 cents per night have an impact on your Redbox rental habits?
(via Home Media Magazine)
thats all i needed ..thanks for nothing redbox…im out…gone…… adios
lol that extra 20 cents will really do you in, huh?
WOW….Just when ppl without cable thought they had a financial savior…thanks Redbox
My main and only problem with RedBox is not being able to use prepaid cards anymore. That was a good way to q keep up with what I spent on movies each month.
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