It’s a good day to be a Redbox fan. Redbox parent Coinstar has announced its second-quarter results, and the numbers were pretty good. Redbox’s revenue jumped 33.8% and profits saw a large increase as well. Redbox also announced that it had reached the four million mark in video game rentals.
Coinstar CEO Paul Davis informed investors that his company is trying to “roll out the welcome mat” for disgruntled Netflix customers. The company also revealed an interesting ratio: about 20% of Netflix subscribers also use Redbox, while 30% of Redbox customers also use Netflix.
Davis also attempted to put investors’ minds at ease regarding the imminent departure of Redbox president Mitch Lowe. “We won’t miss a beat,” Davis said of the search for Davis’ successor.
Are you surprised at how Redbox did this last quarter, Insiders? Can we look forward to many more profitable financial reports from our favorite kiosk operator?
(via The Hollywood Reporter)
so what do you think of the netflix price increase for the streaming and dvd service? to be honest I do not really care that much because if you think about it, the more you pay the more content they can purchase for us and in the end customers will be happy once again. but maybe im wrong?
I expect another increase in Q3 due to Netflix’s price changes
I expect a price increase for both Netflix and Redbox. Plus delays will get longer. Pirates 4 will only be available to RB as Bluray rental not as the dvd combo pack. RB gets access to the dvd a month later, for full price.
This means RB won’t get good copy depth of Pirates 4 on dvd until Dec 27. That’s 3 mos after the Bluray/DVD combo pack release. I asked the local store and they said they won’t be affected as they will just seperate the Bluray and dvd. I guess it’s not as bad as Netflix’s Disney deal though, what is it a year delay to stream new films?