Redbox plans to close hundreds of movie rental kiosks this year

05/23/2014 // West Palm Beach, Florida, US // JusticeNewsFlash // Justice News Flash // (press release)

Illinois – Redbox is set to close over a reported 500 kiosks this year. As reported by The Verge, the company, which operates more than 40,000 kiosks, has announced its plans to uninstall hundreds of the machines after only seeing a three percent increase in revenue last year.

As noted in the report, since introducing its $1 per day rental model with DVDs, the company has since added video game and Blu-ray rentals for over the dollar price range. Redbox has also since sought to branch out with selling items such as concert tickets via its kiosks, but achieved minimal success with the short-lived endeavors.

Redbox will reportedly renegotiate with major studios regarding content deals later in the year.

This report is provided by Justice News Flash – Illinois Legal News

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