Redbox Automated Retail LLC was founded in 2002 when McDonald’s Corporation put four automated grocery kiosks selling milk, eggs, and other necessities as well as 11 DVD rental kiosks in a Washington, DC, metropolitan area.
The company withdrew the grocery kiosks within a year, but the DVD rental kiosks were a success.
In 2005 Coinstar bought 47% of the company for $32 million.
In 2008 Coinstar exercised an option to increase its ownership share from 47% to 51%.
In 2009 Cointsar bought out McDonald’s and other shareholders for $170 million to become sole owners of the company.
Redbox rents DVD and Blu-ray discs as well as video games through its distinctive red kiosks. Movies are $1.20 per night and video games cost $2.
RedBox launched its online ad-supported streaming service in February 2020.
In August 2023, the company announced it was expanding its perks program to include its video-on-demand platform.
Redbox is a fast-growing business with 43,700 kiosks across North America. Redbox has 47.8% of the market share for the physical rental market. The company’s biggest competitors are Blockbuster, Netflix, and GameFly.
Redbox Automated Retail LLC was founded in 2002 when McDonald’s Corporation put four automated grocery kiosks selling milk, eggs, and other necessities as well as 11 DVD rental kiosks in a Washington, DC, metropolitan area.
The company withdrew the grocery kiosks within a year, but the DVD rental kiosks were a success.
History
In 2005 Coinstar bought 47% of the company for $32 million.
In 2008 Coinstar exercised an option to increase its ownership share from 47% to 51%.
In 2009 Cointsar bought out McDonald’s and other shareholders for $170 million to become sole owners of the company.
Redbox rents DVD and Blu-ray discs as well as video games through its distinctive red kiosks. Movies are $1.20 per night and video games cost $2.
RedBox launched its online ad-supported streaming service in February 2020.
In August 2023, the company announced it was expanding its perks program to include its video-on-demand platform.
Redbox is a fast-growing business with 43,700 kiosks across North America. Redbox has 47.8% of the market share for the physical rental market. The company’s biggest competitors are Blockbuster, Netflix, and GameFly.