Per Hacking Netflix:
It's been a busy day for Redbox. First, they announce that they're teaming up Verizon to launch a Netflix competitor, and then they buy the Blockbuster kiosk business from NCR. From Fast Company:
It's been a busy day for Redbox. First, they announce that they're teaming up Verizon to launch a Netflix competitor, and then they buy the Blockbuster kiosk business from NCR. From Fast Company:
Coinstar, the company behind DVD-kiosk service Redbox, today announced it had would acquire NCR's entertainment business for as much as $100 million. NCR, once the central rival to Redbox through its Blockbuster Express brand, operates thousands of kiosks which will now come under Redbox and Coinstar's control.
The announcement comes on the heels of another company announcement earlier today that Redbox would be partnering with Verizon for a subscription-based streaming competitor to Netflix. Now, with NCR's entertainment business under its belt and a digital service in the works, Redbox is in a strong position to shake up the entertainment and retail industries, especially with its 35,400 point-of-sale kiosks already dotting the landscape. And as if today's announcements weren't enough, Coinstar also reported that its quarterly profit had doubled today, jumping to $31.5 million.
Blockbuster sent out an email to notify customers about the change, and here is the text of that email:The announcement comes on the heels of another company announcement earlier today that Redbox would be partnering with Verizon for a subscription-based streaming competitor to Netflix. Now, with NCR's entertainment business under its belt and a digital service in the works, Redbox is in a strong position to shake up the entertainment and retail industries, especially with its 35,400 point-of-sale kiosks already dotting the landscape. And as if today's announcements weren't enough, Coinstar also reported that its quarterly profit had doubled today, jumping to $31.5 million.
Dear Valued Customer,
NCR, which operates your Blockbuster Express kiosks, has entered into an agreement to sell its kiosks and other assets to Redbox. Until the transaction is completed (we anticipate in the third quarter of 2012), you will continue to enjoy the convenience, choice, and value you're used to from BLOCKBUSTER Express. Until the sale is completed, we will continue to run the business as we have been, focused on bringing you the latest New Release movies with most titles only $2 for the first night. You'll also notice that we've increased our In-Stock Guarantee value so you will now enjoy a movie night on us with a value of up to $3 if we don't have the New Release movie you want in stock.
As a reminder, we still have 100s of great movies available at $1 and additional nights of all movies are still only $1, all part of preserving an exceptional value for an affordable night of entertainment.
We'll continue to provide you with information on any changes that result from this recent announcement but for now we just wanted to say thanks for being our customer.
Thanks to Sean, Joseph, Martin, Maxaroon, and everyone else for sending this in.NCR, which operates your Blockbuster Express kiosks, has entered into an agreement to sell its kiosks and other assets to Redbox. Until the transaction is completed (we anticipate in the third quarter of 2012), you will continue to enjoy the convenience, choice, and value you're used to from BLOCKBUSTER Express. Until the sale is completed, we will continue to run the business as we have been, focused on bringing you the latest New Release movies with most titles only $2 for the first night. You'll also notice that we've increased our In-Stock Guarantee value so you will now enjoy a movie night on us with a value of up to $3 if we don't have the New Release movie you want in stock.
As a reminder, we still have 100s of great movies available at $1 and additional nights of all movies are still only $1, all part of preserving an exceptional value for an affordable night of entertainment.
We'll continue to provide you with information on any changes that result from this recent announcement but for now we just wanted to say thanks for being our customer.
