Former Warner Home Video executive Mark Horak joined Redbox earlier this year as the company’s president.
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Home Media Magazine recently sat down with Horak to discuss Redbox’s recent price increase, why Redbox Instant failed, and more. The whole interview is worth a read, but here are some highlights.
Home Media Magazine: Are you concerned about consumer pushback similar to what Netflix experienced when it raised prices $1 earlier this year?
Horak: The Redbox rental of new-release movies still is the best value entertainment. They are a 1/3 the cost of a digital rental of new-release movies.
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Netflix has catalog and Redbox has new release. We will continue — even with this price increase — to offer the best value in new-release home entertainment by far. Redbox offers value to the home entertainment content producers and game publishers by attracting marginal consumers who don’t want to pay acquisition prices but still want to consume content on a paid transactional basis.HM: Why did Redbox Instant fail? Was it the cost of licensed content? Have Netflix, Amazon, Hulu raised the cost of entry too high for potential SVOD players?
Horak: The Redbox Instant subscription failed. Redbox has a role to play in the transactional ecosystem. We are investigating and formulating plans to bring the value of our huge digital network of 36 million email users, 25 million mobile app downloads to the transactional space. We are biggest transactional player with 775 million transactions last year with 40 million active consumers.
HM: Is there too much of push toward SVOD within the industry?
Horak: No. When I came to Redbox my question was, ‘How does Redbox offer value to the home entertainment business?’ By being such a large transactional player that appeals to large number of consumers who still want to pay for new release content. That’s where we add value.
[via Home Media Magazine]
I’m not sure they can do anything else. It doesn’t sound like the boxes are gonna get any fancier and they probably aren’t gonna carry much tv,or eve 3D, boo. They offer cheaper new releases. They probably will have some further declines but hope the extra revenue per person per disc and extra days will make up for it. I remember McDonald’s was the place to go for the $1 double cheeseburger and medium fry. Now one is $1.49 the other $1.69 or more. While I appreciate not having to pay $3.99 plus per movie, I just have too many alternatives right now thay are cheaper per title.
Horak is stupid. redbox needs to focus on CATALOG titles especially blu-ray. There are value priced content in this format, but redbox keeps focusing on GARBAGE content.
For me…. RedBox is not the way to go…..
Here is why…
1. I have NetFlix in the mail. Three out at a time.. I get (4) Dvd’s a week. $17 bucks a month + change. That= out to about 89 cents a DVD.. And the disc come right to my door. I don’t need to go take them back in 24 hrs.
I also have Netflix online. And Warner Bros Archive online.. And a new place from the UK… Acorn TV.. that is $.5.00 a month.. Yes I am paying about $43.00 a month for all of it…But I have more then I can ever watch…
And it’s all very easy & simple..
When RedBox first came out. I did use it all the time. But no more.
I just don’t see anything I really want. And what I do see I want. I can get it from NetFlix…
Really? You don’t like Redbox? I don’t think anyone here knew that before. Thanks for the update!
Also, could you let us know what you think of Netflix? That would be really helpful.
Danno – are you cutting and pasting your response again
Dano reminds me of a parrot. He squawks the same thing over and over
SQUAWK!!!!! Ha! ha!…
I rent less titles as the price increases. I believe they would do better if they dropped the prices back down to $1.00
At $1.00 I will rent almost anything (B-movies, lame horror movies, independent studios with no name actors, etc.)
At $1.50, I get more selective. Only rent big name movies. So I would miss stuff like “Under The Skin” or “Snowpiercer”.
I notice he completely ducked the question about why streaming failed.
Yes he did……….
He know’s the Box just did not have it..
NetFlix and Amazon have the Market 100%.
Yeah he just repeated the question and then changed the subject and started talking in garbage words like ‘transactional ecosystem’
Really?! People are complaining about $1.50 per dvd? Unbelievable. I can’t understand how Redbox even breaks even, let alone makes a profit. I LOVE Redbox, and the convenience of renting online then picking up at the box. $1.50 per dvd is a steal. Seriously. A steal.
For some maybe it is a steal….
But for most it is not……. I am getting my disc from Netflix…Three out at a time… Last Month my three out at a time.. All the disc I got in the mail for the month= out to 87 cents a disc.. No driving to the box. No driving back in 24 hrs to take a dick back.
NetFlix is it for me…
To my disappointment, I just noticed that the redbox increased their price to $1.50. Is it a better value than those ridiculous priced VOD prices from Amazon/cable companies or going to the movie theater? Sure. However there are other expenses to consider like time and gas to get and return the disc. I would hate to see Redbox go out of business but I am not gonna rent as much as I used to. And lets be real…. Nowadays, most of the movies that we see are just ok.
Just ok? I would say 95% of them are crap… Are a Remake of a remake of last years remake.. About 5% are good…
Just my two bits…
And you are so right.. The gas to take them back and all that..
I have three of them with in 1 miles of me….
But I will stick with NetFlix three out in the mail.. To my front door..