Redbox parent Coinstar released its Q4 2010 financials, and while the numbers were not as high as previously expected, the quarter still saw solid growth. Among other interesting numbers revealed was the fact that Redbox passed the 30,000 kiosk mark in late 2010.
Redbox revenue in Q4 was up 38% over 2009 and reached $319.6 million. Overall Coinstar revenue topped 2009 by 39%, reaching $1.43 billion.
Coinstar CEO Paul Davis offered the following on his company’s latest financials:
“We grew our fourth quarter revenue 31% over the prior year, and while this was not in line with our expectations, we still delivered $2.03 in earnings per share for the full year . . . We have taken definitive steps to correct the issues we encountered with our Redbox business in the fourth quarter and will be tracking progress closely. We remain optimistic about our core businesses as well as future opportunities with new automated retail concepts, and we are committed to driving continued profitable growth.”
Davis also gave some words of warning to studios (here’s looking at you, Warner) that would like to lengthen the delay windows they currently impose on Redbox. Said Davis:
“If it ever got to the point where it was too over the line, we could leverage the First-sale doctrine,”
Long-time Insiders will remember that Redbox has already leveraged the FSD in the past, when its supply of new releases was being throttled by the Hollywood Three. Will those dark days be coming back?
(via Home Media Magazine)