Redbox’s appeal to teenagers is at its highest level ever, according to Piper Jaffray’s most recent survey of the young demographic. As reported by news and analysis service Benzinga, Piper’s national study of 6,000 teenagers on their current and future movie rental activities revealed that kiosk use is on the rise as retail store use continues to plummet.
According to Benzinga:
“40% [of respondents] indicated they currently use kiosks, which is an all-time high from the survey. Renting from retail stores is decreasing in popularity as 59% of teens use stores today, down from 79% one year ago. With over half of teens still using retail stores, however, Piper believes the potential for further share gains is underestimated.”
It’s not surprising that tech-savvy and frugal teens are leaving the B&M video store behind in increasing numbers. Will the concept of renting movies from a retail store soon be completely unknown to the next generation of movie fans? Weigh in with your opinion in the comments.