Monday, January 18, 2021

REDBOX RENTALS SLOWING DOWN

May 21, 2014 by · Leave a Comment 

After years of double-digit growth, Redbox saw its revenue rise just 3 percent last year and it is expected to stay flat this year, the Wall Street Journal observed today (Wednesday), noting that the company is uninstalling about 500 underperforming kiosks this year. The newspaper attributed the stagnation not only to the fact that Redbox has already saturated the market with its kiosks but also that viewers in general have indicated that they prefer streaming services that don’t require them to go out of their homes to rent a movie or TV show and then to return it. “Redbox has definitely reached full maturity. The only question is: how steep is the decline?” Steven Frankel, an analyst at Dougherty & Co., told the Journal, which noted that Redbox’s own attempt to get into the streaming business with its Redbox Instant service is foundering.