Redbox is seeing strong demand for its disc rentals, the company announced yesterday.
According to the rental firm, which is owned by Coinstar, 1.5 billion DVDs and Blu-ray discs have been rented from its kiosks since it launched its service in 2004. Moreover, the company has rented 4 million video games.
To help build upon that success, Redbox said yesterday that it’s rolling out game rentals to 5,000 more kiosks around the U.S. starting August 1. With those additions, consumers will be able to find games at 27,000 kiosks around the country, Redbox said.
Redbox started offering game rentals to customers in August 2009 in a few kiosks. It expanded the offering to more than 5,000 kiosks after it enjoyed some success with that rollout. The rental company in June officially launched its game rentals to 21,000 kiosks around the U.S.
Redbox offers a range of titles for the Xbox 360, Wii, and PlayStation 3, including both new hits and older games. It charges $2 per day for its game rentals, up from the $1 per day it charges for DVDs and $1.50 customers pay for Blu-ray titles.
[Cnet]
Yesterday, Coinstar announced its second-quarter financial results. According to the company, its Redbox revenue hit $364 million, up about 34 percent compared to the second quarter of 2010. All told, Coinstar generated net income of $26.7 million during the period.
