RedBox is now feeling the heat. After becoming one of the masters in the video renting world, RedBox is feeling the heat/need to evolve and go digital. They want to hold their ground, and find a way to stay competitive with the big fish, NetFlix. So what’s their move?
Redbox, which became the fastest- growing U.S. video retailer with DVD kiosks and a $1-a-day rental price stores couldn’t match, is developing an online strategy to stay competitive with larger rival Netflix Inc.
The company, the biggest division of Coinstar Inc., may use a Web service to expand its library beyond the 200 or so titles crammed into each of its 24,000 or so DVD dispensers, President Mitch Lowe said in an interview from Redbox’s headquarters in Oakbrook Terrace, Illinois.
“The way we look at it is, How can it help us deliver to our customers things we can’t do in our kiosks?” Lowe said. “What role might it play in expanding our selection?”
The approach Redbox outlines in October will be designed to narrow the gap with Netflix, which offers more than 100,000 titles by mail and 20,000 older films online. It may also help the company take more business from Blockbuster Inc., which is closing stores and recently skipped a debt payment.
Personally, I believe this is a must. With each passing year, the tradition of renting movies/videos physically is becoming extinct. If RedBox wants to stay relative and competitive in this area, they need to make move towards digital. They need to find a way digitally that can make them compete with the likes of NetFlix, iTunes, Best Buy, and very soon, Wal-Mart Stores. I believe their chances of surviving and competing will depend strongly on service, quality of stream, and low prices.
What do you guys think?
I have been waiting to hear that Netflix and RedBox would merge or one would buy the other. I would love to be able to get movies in the mail, from streaming video and finally if there is nothing to watch from the kiosk. This may be the first step in that direction…..
I absolutely agree! It would also be nice to return my mailers to something like a redbox mail box so they could be marked as returned faster and my next disc would be mailed that much sooner.
The way we can help customers Lol hahahah the Way we can make money the way we change what we say to sound professional.
I quit renting at Blockbuster over two years ago when I felt the rental price became to unreasonable. I have been renting at the Red Box and also my local Drug Mart store.
As far as I am concerned Blockbuster is all but finished. They built a shiny new store near me like 4-5 years ago and the lot is always empty now.
I guess I’m the only one who rents at Blockbuster anymore. LoL
no i still too you are not along im still one that like to buy my dvds phyically as well