Revenue for the DVD rental kiosk operator rose 33.8 percent for the latest period to nearly $364 million, at the lower end of company projections, as management says it is looking to attract Netflix users upset with a recent price hike.
The term vending machine conjures up images of dropping coins in a slot to buy cola, candy or chips.
“(Brick-and-mortar stores) are falling like dominos. Soon it’s going to be Netflix and redbox, if it’s not already. They serve two needs, redbox for new releases and Netflix for older movies,” Mendelsohn said.
Total spending on video rentals declined 4.9% to $3 billion as retail chain Movie Gallery closed stores, and consumers flocked to the fast-growing number of $1-a-night DVD rental kiosks like the ones operated by Redbox. Kiosk revenue was up 55%.
Posted at 12:21 PM on Monday, Jul. 19, 2010
By Bethany Clough / The Fresno Bee
A new kind of challenger has entered the nation’s DVD rental wars: mom-and-pop kiosk owner.
Marsha Conant is one of this new breed. She has installed two machines stocked with DVDs in Fresno — one in Whole Foods Market at Fig [...]
Viacom’s Paramount Home Entertainment and video rental kiosk company Redbox said later yesterday Paramount had decided to extend its revenue sharing license agreement with Redbox. The deal gives Redbox access to Paramount movies for rental the day they are released.
Coinstar and Netflix (Nasdaq: NFLX) are growing briskly, even as Blockbuster sputters. If Meyer is a distracting outsider, the company should remedy the situation by finding forward-thinking new faces who’ll be more amicable in the boardroom.
The nation’s largest maker of ATMs embarked on its first retail venture last year by rolling out DVD-rental kiosks across the U.S., a move that’s part of a wider strategy to capture a piece of the rapidly transforming entertainment market.
But there is a silent revolution, a genuine improvement, that is spreading in the DVD rental business. It is the fully-automated $1 kiosk you can see in more supermarkets, especially in Southern California, my neighborhood.
It seems like they’re everywhere: grocery stores, gas stations and pharmacies.
Add one more location to the mix: library.
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