This is important for Redbox as its disc kiosks begin to dominate the DVD rental business. Much of Redbox’s clout comes from its growing presence in Walmart stores: The retailer began housing Redbox kiosks in 2006, and now they’re in more than 3,700 stores — accounting for about 13% of Redbox’s 28,000 locations in the U.S. It boasts that more than two thirds of the population lives “within a five-minute drive of a Redbox kiosk” which rents DVDs for $1.20 a night. The companies didn’t announce financial terms of their contract renewal. Investors are still waiting for Redbox’s parent, Coinstar, to unveil its digital streaming strategy. The company also is expected to announce soon whether it will go along with Warner Bros’ effort to double the waiting period for new DVD releases to 56 days, or try to circumvent it by buying discs from retailers — possibly including Walmart.
By DAVID LIEBERMAN, Financial Editor | Tuesday January 31, 2012 @ 8:47am ESTTags: Coinstar, Redbox, Walmart, Warner Bros
For all of Deadline's headlines, follow us @Deadline on Twitter.
This article was printed from http://www.deadline.com/2012/01/redbox-renews-dvd-kiosk-agreement-with-walmart-to-2015/