Redbox rang in 2010 by renting more than two million movies on New Year’s Eve last year, a single-day transaction record for the company. With 2011 bowing in just a couple of days, many are wondering if Redbox can meet or beat last year’s total.
Redbox recently commissioned a Kelton Research survey of more than 1,000 adults, which revealed that nearly half of survey respondents planned on renting a movie on New Year’s Eve.
Wedbush analyst Michael Pachter believes that Redbox will top 500 million total rental transactions for the year 2010, which makes beating the two million mark on Friday night a good bet.
Analyst Edward Woo also believes that Redbox will reach or exceed the two million mark on New Year’s Eve, citing rising Q4 revenue estimates and Redbox’s 5,000-kiosk increase over last year.
Your turn, Insiders. Will Redbox hit the magic two million number again this year? How many of you plan on making a Redbox rental part of your new year celebration? Don’t forget that the 31st is the last day to participate in Redbox’s “rent 3 get one free” deal.
(via Home Media Magazine)