R.I.P., Redbox Instant. Verizon and Redbox have announced that they will be shutting down their struggling joint streaming venture on Tuesday.
Redbox and Verizon joined forces last year to launch the Netflix-fighting service, but it never really caught on with consumers. Neither partner’s heart seemed fully invested in the venture, and consumers were not attracted to the service’s limited content offering. No new subscribers have been able to sign up for Redbox Instant in several months.
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From a statement released this weekend by the companies:
“The joint venture partners made this decision after careful consideration . . . The service had not been as successful as either partner hoped it would be.”
Shutting down the streaming service will likely be good for Redbox’s balance sheet, but what about the company’s long-term health. Redbox’s fortunes are now tied to the slowly declining physical disc.
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What does the company need to do now to stay relevant and profitable?
[via The Wrap]
Late to the party redbox instant should of showed of early if you wanted a fighting chance ????
That’s too bad. We really liked Redbox streaming. Sort of supplemented Netflix by offering tons of what Netflix didn’t. More/newer movies. Plus we loved the free movie credits to the kiosks too. Sad to see it ending.
Look’s like Verizon is going to get a very nice tax wright off on this. And post it as a loss on the tax’s book’s. RedBox will do the same. It really did not stand much of a chance. As NetFlix and Amazon have the streaming market all taken care off.
I will say it again.
RedBox needs to get back to A. And start giving great deal’s on DVD rents.
Charge $1.25 for a DVD. $1.50 For the blue-ray’s. And let you have 48 Hrs to watch them. They need to put two machines in every place. One for DVD’s/ One for Blue-Ray’s. They need to put some good old Movies out. With some good new ones. If they did all this. They can make it. If they don’t, they will end up going the Block Buster way.
It’s all about giving people what they want. Right now RedBox is not doing it.
I agree with ? update the movies with some classic movies
P.S. One more thing.. DVD’s are not going anyplace any time soon.
Over 75% of the public still wants the DVD in there hand… I do..
I have NetFlix three out at a time in the mail. Fast turn around…
And the streaming deal. Streaming is ok. BUT. This is just a BUT right now. But, if Comcast get’s Time Warner. And put’s caps on your net use. (As they will).
Streaming is going to take a big hit. Comcast daid. It will give you 300 GB’s ….
Ok. Do you know that watching just one HD movie on NetFlix a day. you will be over in about 25 day’s are less. And this does not take into account your other net use. Just the Netflix streaming. Now think if you have a family of 4, 5.. All using the net. Ha! ha!. You will be over in about a week are so..
And then pay up the kisser for more GB’s of use..
Just a thought!
Problem is Netflix is scaling back their disc rental service so that may only have a few years before they axe it.
Yes you are so right… But let;s see what happens when the Cap’s on your net use kick in..
The Caps and the charge that comes with being over them may be a hit to the streaming bit.
Time will tell.
I think Netflix will still be sending Disc in the mail in (5) years. True it will go up in price.. I just dot see NetFlix telling people. We will not send you DVD’S in the mail anymore. Not for a long long time…
I hope I am right….
But then you just never know..
I hope you’re right about the mailing service continuing but wrong about the caps. ;)
NetFlix will keep the in the mail for years on end yet I think.
They will not say good buy and tell 7-8 million people. You can’t have your disc in the mail. They will just not do it…
About the caps on your net use. As soon as Comcast get’s Time Warner. They will put the on. And everyone will flow them.
Verizon, At &T all of them.
The FCC should never let Comcast have Time Warner.
But they will. The FCC is nothing more then a Government joke, that goes to where the money iis. And they are in bed with Comcast.
So get ready for the shaft next year… It is coming to your town…
I knew it would happen. I canceled their streaming 7 months ago due to lack of content. I even emailed them and stated they don’t have long as long as they don’t offer to stream what they have in the box..AT BOX PRICES. Ive even canceled Vudu cuz I don’t believe I should have to pay over $4.99 for a movie I could get on dvd Redbox for $1.20 and at Netflix thru the mail.
The VUDU price factors in convenience.
Closing? Shutting down? But wait, I was just about to sign up. Not. Actually this is very good for Redbox. They’re joining with Verizon was a waste of time and money. By sticking with the boxes, they are sticking with your record crowd. Unlike Dan-Five-Uh-O, I don’t feel that there is a conspiracy going on. I don’t think there needs to be two boxes everywhere. That would put Redbox out of business. In my community, there are a total of about 28,000 people. There is one box to serve them all. There used to be two, but Redbox took one away because it wasn’t used enough. The next closest box is 20 miles away. No one makes that can mean. There’s no need to. With Netflix, Amazon, and Hulu Plus, there is plenty of entertainment to go around.
Lower the price down to a buck again….I would rent more…
They were doomed by the limited device availability. Should have been on other gaming platforms too.
Yeah, I agree. I was waiting for Redbox Instant to be compatible with Apple TV. Then I would’ve signed up.
I tried a free month of RedBox Instant. I have a >25 Mbps DL connection with
Comcast. After numerous tries the Redbox Instant would always just stop or pix out so bad it wasn’t watchable. Not sure if it was a problem with Redbox’s network or Comcast cutting back the download speed. Needless to say I never joined Redbox Instant after the free month which wasn’t watchable..
I found it glitchy on my 2012 Samdung LCD…login problems, viewing problems. This also kept me from signing up beyond the trial.