After years of anticipation and months of beta testing, Redbox Instant by Verizon has officially launched to the public. The service offers electronic sell-through and streaming video options from several major studios, along with a monthly subscription.
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For $8 per month, subscribers can stream an unlimited amount of content from Warner, Lionsgate, MGM, and Paramount, and also rent four DVDs from any Redbox kiosk. For another dollar per month, users can upgrade their rentals to Blu-rays.
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Redbox Instant CEO Shawn Strickland was understandably excited about his service’s official launch:
“We are open for business and all systems go . . . We had hundreds of thousands of people raise their hands to get into the beta [trial], which was astounding. We had all sorts of game plans for how we could stimulate 30,000 to 50,000 customers, so that was a testament to the strength of the Redbox brand.”
The service is currently offered on the Xbox 360, Apple devices, Samsung Blu-ray Disc players and web browsers. Support on devices from other manufacturers is expected very soon. Strickland acknowledged that such compatibility is very important to the service:
“We hope to have some more news about additional relationships [soon] . . . That is obviously one of our top priorities here.”
Does Redbox Instant sound like a pretty good deal to you? Do you plan on subscribing to the service, Insiders?
[via Home Media Magazine]
And it will be a flop…
No TV shows. No new Movies. No CC Closed Caption…
Same old Movies that are in the Box..
I can tell you this.. All kinds of people will drop in in no time.. I did…
I agree. Less selection of movies, fewer movie studios than Netflix, and fewer sources to view movies on (I use my PS3 for Netflix), but somehow 4 physical DVD’s is the gamebreaker? Everyone knows that Redbox renters generally keep movies for more than the 1 day rental. I’d say logically that the avg disc renter keeps the disc for at least 3 days. So, the real cost is $1.29 x 8 + $8 for less portals and far less selection.
No thank you. This may be competition for Blockbuster, but not Netflix.
Though we will never know for sure… but i believe most renter ares like me one day out. If I don’t watch a movie in one day I take it back and check it out some other time, or I take it back and rent it again.
Of course I’m using free rental codes most of the time when doing this so it never cost.
There are I’m sure some people that keep and pay additional rental on a movie, but I’ll bet all of Redbox/Verizons Instant Streaming stock (I know thats not much of a bet, using worthless stocks) that the majority are one day renters.
“The majority are one day renters.” And, you’re using free codes most of the time?
Okay, I’ll try not to be rude, but that wasn’t an entirely well thought out comment. You were speaking from a frugal mindset (nothing wrong with that mind you).
Coinstar owns Redbox. Their stock is at $56/share at the time of this email. If you think that the majority of Redbox users are only keeping the movies for one day and rushing them back the next day you’re not really thinking it through. The majority of people aren’t going to rush a movie back when they get the impression it “only” would cost an extra $1.29 to keep it that extra day.
We do know for sure that the avg is over one day. It’s called “deductive reasoning.” There are many factors that would indicate the statement I made is true. Say a user returns their movie to a McDonalds that closes the inside dining at 10 pm. The movies aren’t due until 9 pm. You think that movie is re-rented in an hour night in and night out? Sorry, but by your logic, there would nearly always be a day lost in a movie rental at most Redbox locations. The movies are only held in any given Redbox for maybe 30-45 days (depending on popularity).
According to the last information that I heard thru Coinstar, the avg. rental is kept 2.37 days.
TrueGrit you are correct on your stock prices.
To explain I’m using free credits I was signed up for the test drive of Redbox Streaming for 60 days, didn’t work for me and many others. When joining this streaming you become a “Redhead Nation member” This is where you recieve credits for rentals as I stated. I did not see the advantages of of continueing my subscription, my choice.
CSTR stocks have had their ups and down, but NFLX is holding good. I’d invite you to read the pros & cons that professionals have written about CSTR. Could be a good buy in the long term but the parent companys are not going to throw money at this venture for fear it will effect their own bottom line. So it will be a rough road for CSTR for awhile till they get their act together.
For your reading enjoyment please see:
http://www.fool.com/investing/general/2013/03/16/redbox-instant-is-no-match-for-netflix.aspx
I think it has the potential to surpass Netflix. It’s BRAND NEW so it’s going to take some time to get it up to that level. The streaming library needs to be expanded for sure, but as it grows its going to be a contender for sure. I’m hoping for more devices to be available soon, like Roku and PS3! I know it would be worth the $8 per month for my family then, especially considering the four dvd rentals that come with it. That’s $6 right there so $2 more for streaming is awesome!
The problem for them is when there are better options they won’t have much time to “grow”. You are correct they need to get on more devices.
need Roku support or PS3. Xbox requires Microsoft paid service for any video streaming.
I will definitely subscribe when Redbox streaming goes to Roku. I am growing tired of returning DVDs to the kiosk and would enjoy staying home. If all that is offered through streaming is exactly what is at the kiosks, that is fine with me! I don’t pay expensive cable costs; I have the Roku and I pay for Hulu and Netflix and rent from Redbox. Adding the cost to stream Redbox still has me at under $25/month for television which is great!
Adam.
You said it 100% right. All the build up. And how good it was going to be..
At $8.00 a month + the (4) free DVDs at the Box.
But they have nothing to give. And again you are so right. The Buy bit. And I would of thought they would of got it from Netflix on the Closed Caption.
But No. I understand it is a start up. But this is one very sad way to start up!
Not going to get it. Got a free 30 day deal.. And caned it like a bad habit!
I cancelled at the end of the trial month. There is not enough content that I want to watch.
I cancelled at the end of the beta trial – very little streaming content that interested me. They need to really beef it up to contend with Netflix.
Hey Coco72,
i too thought that the service was going to stream the same movies it has at the kiosk. What a DISAPPOINTMENT Redbox Instant is… not even CLOSE,… not even 1/1000th of the Netflix selection. I am not kidding, go to Redboxinstant.com and then hit the subscription tab. They have LESS than 200 movies… most of them old, the newer stuff they are renting/selling for a premium, ( see rent/buy tab) and the only thing you are getting is access to buy/rent… those are NOT included with the subscription.
VERY, VERY, Extremely disappointed.
This new service even makes Hulu look great!
lame :(
I agree with DanoFiveO & Adam, Redbox Instant was and is a total flop. all old stuff in their offer to stream free. When you find something a little newer it was either rent it now or reserve it at the box. A total waste of money.
I even gave them the bennefit of the doubt and paid for an extra month just to see if they were holding something back for the big launch… nope I wasted $8 and all I got was 4 free rentals that cost me $2 each.
The one and only good thing about there beta testing was I did walk away with a bunch of codes for free rentals which I have just used up this past weekend. Further I have 5 Redhead t-shirts and a air freshner that smells like popcorn. Answering some of their questions about movies was a joke some I answer twice with the correct answer and it was wrong. the portion about leaving reccommendations was a joke, they didn’t give a damn!! I left some very pointed ones that I never thought they would publish, but they did, but they just ignored them. I would have thought they would look at these and contact people or try and smooth things over, but no they didn’t give a shit. Never heard a thing from them, just take the $8 and away they went.
I will keep the more mature and caring Netflix that I started up again just prior to entering Redbox’s dog and pony show POS.
Compared to all the available streaming possibilities offered, Redbox does not even show up on the ratings for one to compare to, ITS A TOTAL JOKE!!
Calling Redbox “Lame” (as some have said) would be a compliment.
The only thing they have going for them is the Box and the customer service they provide with it. Streaming is not their game…
Buyer Beware!!
Just my two cents.
Sorry Truegrit ! I don’t know anyone who keeps a Redbox movie longer than one day except for the ones whose children took and hid a movie and they have not found it yet.
I never keep a movie from the Box more then a day….