Redbox, the operator of DVD rental kiosks found in supermarkets and convenience stores, is reportedly attempting to launch a video streaming service again.
Sourced through Scoop.it from: www.latimes.com
Redbox, the operator of DVD rental kiosks found in supermarkets and convenience stores, is reportedly attempting to launch a video streaming service again. The Oakbrook Terrace, Ill., company is testing a new platform called Redbox Digital, which will compete with established video-on-demand services such as Netflix, Amazon and Apple, according to a report in Variety on Thursday citing unnamed sources.
Redbox declined to confirm the news and said in a statement: “Redbox continually looks for ways to enhance our customer experience while maintaining our priority of managing our business for profitability and cash flow. … As such, we regularly conduct tests of potential offerings, as part of our ongoing commitment to provide value for our stakeholders.” Redbox shuttered its first streaming service in 2014 after only 18 months. Redbox Instant, a partnership with Verizon, charged $6 a month to watch movies online, but the service proved unprofitable. Analysts say Redbox struggled to compete with Netflix, which offered subscribers a wider array of content. Redbox faces even more competition with the rise of Amazon’s streaming video platform, not to mention Netflix’s successful original programming.