Redbox Offering Blu-rays for $1.50 Per Night
Redbox president Michael Lowe thinks the time and price is ready for kiosk Blu-ray rentals.
Redbox says Blu-ray discs coming to kiosks within months.
Blu-ray discs are coming to Redbox kiosks within the next few months for $1.50-per-night, announced Redbox president Mitch Lowe at the Entertainment Supply Chain Academy Edge Conference.
That’s $0.50 more per night than the DVD rental price.
The announcement comes on the heels of Redbox securing deals with Universal, 20th Century Fox, and Warner Bros. to supply their films to Redbox kiosks 28 days after their original street date. These deals are in response to studios and distributors refusing to sell direct to Redbox at street-date to preserve sell-through often lost to low-cost rentals.
“We’re really excited about our studio relationships, which has been a big change from last year,” Lowe says.
Lowe says he thinks Blu-ray will succeed at Redbox kiosks, adding that 16.9 percent of Redbox customers own a Blu-ray player and Redbox has a 23 percent share of the rental market.
Lowe says Redbox is not hurting studio sales, but actually helping. “We’re going to be driving awareness of your product to purchase where we’re at,” Lowe says.
[via Home Media Magazine]
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