Redbox lives and dies by the new release titles it receives from studios. The company cited a dearth of quality new releases as one contributor to a drop in Q3 rentals. Having found out that many studio releases it was counting on for big numbers this quarter have been shifted to next year, Redbox is scrambling to make up the difference.
20 movies (which Redbox declined to name) that were slated to hit Redboxes in Q4 this year have been pushed back to the first half of 2016.
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According to Galen Smith, CFO of Redbox parent Outerwall, the delayed titles are worth about million in rental revenue for Redbox.
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Said Smith:
“The shift of titles makes 2015 the lowest annual box office for Redbox titles since 2011,”
Redbox intends to offset this delay by buying more discs than it usually would, including more copies of the most desirable titles. Redbox also plans to add more video games for Xbox One and PS4 gamers. Outerwall CEO Erik Prusch said the following:
“We’re seeing that more people want to come and rent [next-generation] video games. This has been a transition [in games]. For us, how do we get to the right level of the installed base for PS4 and Xbox One? Q4 is a big time for new [game] releases, and we’re looking forward to providing that to consumers.”
Will increased title depth and more video games help Redbox overcome its Q4 title gap?
[via Home Media Magazine]
Red Box is getting desperate. And are trying anything they can come up with.
Just like Block Buster did..
They are sinking and taking on more water all the time…
I will give it 9 months to a year.. If they don’t turn it around good. They will sink…
They have been sinking slow for years… Now it’s stating to speed up..
I finally found some working redbox codes here:
http://movierentalcodes.com/redbox
The box is in for a rough time until 2016.
Its shift to emphasizing set-top game rental is a good move; however, there is no doubt it will have to retrench, getting smaller and smaller, to generate and break-even or better result.
Do they ever break down what portion of their sales are dvd/blu ray and video games? I feel the video games are not doing well at all but I could be totally wrong.
What I find a bit funny is…..
I went by a RedBox today…..
And it had… San Andreas…. Not at NetFlix…..
The funny thing was….. I just got it from NetFlix today..
I know it will be a B.S Movie…. But it will be fun…..
And that is what it’s about being fun…..
Even if it’s total B.S…