Offers automated video rental machine boxes.
One Tower Lane, Suite 1200
Oakbrook Terrace, IL 60181
President: Mark Horak
Subsidiary of Outerwall
Redbox The company offers new release DVD and Blu-ray Disc movie rentals and video games through its network of conveniently located, red self-service kiosks. Redbox is a wholly-owned subsidiary of Outerwall, formerly Coinstar.
Redbox has rented more than 1.5 billion movies to date and is available at over 35,000 locations nationwide, including select McDonald's restaurants, leading grocery, drug and convenience stores including Wal-Mart, Walgreen's, CVS, 7-11, Kroger, Albertson's and Circle K. Customers can find and reserve movies online or via mobile app.
The company is increasing the price of video rentals from $1.20 to $1.50 per day starting on Decmeber 2, 2014. The prices for Blu-ray movies will rise from $1.50 to $2.00 per day. Video game rentals will increase from $2.00 to $3.00 per day on January 6, 2015.
Each fully automated Redbox kiosk holds approximately 630 DVDs, representing up to 200 of the newest movie releases. Consumers simply use a touch screen to select their favorite movies, swipe a valid credit or debit card and go. The complete rental transaction takes only moments. Customers can keep the DVD for as long as they’d like and return it to any one of Redbox’s kiosks nationwide. After 21 nights, you will be charged the maximum rate and the DVD is the customer’s to keep. Customers can receive receipts via e-mail.
The concept of Redbox originated in 2002 within McDonald’s Ventures, LLC, which was working to identify new ways to drive traffic to McDonald’s and provide added convenience and relevance to customers. The business concept originated with a variety of automated convenience options, including fully automated “convenience store” kiosks. Through consumer testing and in-store trial, the concept of new release DVD rentals emerged as the most appealing to consumers.
Under McDonald’s ownership, Redbox spent several years refining the Redbox concept with a series of market tests. Redbox’s first market test launched in 2004 in Denver, Colorado-area McDonald’s restaurants. Following positive customer feedback, in 2005, McDonald’s expanded the test to more than 800 restaurants across five additional markets: Baltimore, Houston, Minneapolis/St. Paul, Salt Lake City and St. Louis.
In November 2005, Coinstar, Inc. announced an agreement with McDonald’s Ventures, LLC, to invest in Redbox. The agreement gave Coinstar a 47.3 percent share of the company and made redbox a separate company from McDonald’s. In February 2009, Coinstar announced its intent to purchase the remaining stake of Redbox from McDonald’s and other minority interest holders.
In September 2006, Redbox debuted online reservations, allowing customers to choose their favorite title online and pick it up immediately at the Redbox location of their choice.
In June 2011, Redbox began offering video game rentals nationwide.
Updated November 26, 2014