 |
Video games are available at thousands of Redbox kiosks |
Coinstar Inc. is doing an admirable job of keeping physical entertainment media alive and healthy. The company reported impressive second quarter results last July, with revenue of $342.4 million, up 34.9% year-on-year, and it was thanks in no small part to their healthy DVD rental business, Redbox. The Coinstar subsidiary operates automated video rental kiosks across the country. While the film and television industries are watching Internet and streaming services start to replace physical disc sales and rentals on a large scale, Redbox’s DVD rental business has not only stayed strong, it has grown. Revenue from Coinstar’s DVD rental businesses came to $271.9 million, a 43.9% jump over the same period in 2009. While audiences seem to have stopped buying DVDs and going to the rental shop—as
Blockbuster‘s prolonged collapse has demonstrated—they haven’t stopped renting home video entertainment, and Redbox is competing well with
Netflix, the current king of DVD rentals. It’s only natural then that Redbox is expanding their business into video games.
Redbox announced that they are going to be bringing games to “thousands” of their 24,000 kiosks in the United States. Game rentals will run customers $2 per day.
INVESTORS PLACE
No comments:
Post a Comment