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.
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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.
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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)
It will probably pass the 2,000,000 mark. Between the college football bowl games and the Marx Brothers marathon on TCM, I don’t think I’m going to rent any movies that night unless my daughters want to watch something.
I certainly hope they do, how many new machines did they put in in the last year, and how many double kiosks were added this year. If they don’t beat last year it would be horrifying.
“Horrifying”? Don’t know why, but I got a chuckle from the use of the word ‘horrifying’ when describing if Redbox doesn’t pass the 2 million rentals on New Year’s Eve! :-) There’s some blockbuster movies out right now that I think will help them pass the 2 million mark on New Year’s Eve: Salt, Knight&Day,..Eclipse,…etc.
Why Horrifying, because if they added 5000 new kisoks & 2000 double kisoks that’s roughly 20% plus more locations. If their margin is only 3-5% and they cannot top last years number the way I see it it would be one hell of a decline. They better pray they do 2.5 mil this year at least.
Well, if I saw a little kid run over by a car, ..or witnessed the devastation of Katrina,…or even just reading about the terror on 911/the Two Towers, etc—these incidents I’d refer to or describe as ‘horrifying’. The possibility of Redbox not beating its own rentals from last year on this New Years Eve–nope, that’s not ‘horrifying’ to me so I wouldn’t describe it as such. :-)
Ok
i agree with tee. i think it would be horrifying. almost as horrifying as the above.
The line up of titles is much worse this year so I’ll guess they won’t beat it.
You got that right! Hope it gets better????
If only they had inception and despicable me….
why the 28 days after anyone,it s a free market let them fight for it and get movies asap for our loyal redboxers enjoy.viva la redboxers.