RedBox may challenge Netflix for web video domination

You may have heard of RedBox before, its those little red kiosks at Wal-Mart or McDonalds and many other places that offer DVD rentals for only $1. Well now they want to be more competitive with Netflix, by offering an online streaming service of their own. In a recent interview the president of the company said:

“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?”

This would be a bold move for RedBox, it may be a while before they will be able to catch up to Netflix’s dominating lead in the movie streaming business, but they actually might be able to do it. RedBox also faces some fierce competition from companies other than Netflix according to Bloomberg:

Redbox also faces competition from Apple Inc. and Best Buy Co., which sell movie downloads. Wal-Mart Stores Inc., the world’s largest retailer, bought the Vudu Inc. online entertainment service in February and Sears Holdings Corp., the largest department store owner, said on June 22 it plans to sell and rent movies online through an agreement with Sonic.

Well this may be good for consumers, it could drive down the monthly costs of online streaming and bring more new hit titles to your TV or computer.

Source: Bloomberg

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