Redbox is being acquired by ... Chicken Soup for the Soul Entertainment? RedBox movierentals movienews
If you’re anything like most Americans, it’s probably been a little while since the last time you bothered to rent a feature film, and it’s probably been even longer since you rented aof a feature film, in the form of a DVD or Blu-ray disc, from a Redbox kiosk down at the local grocery store. And yet, Redbox has persevered, and continues to operate 38,000 kiosks across the U.S., in addition to renting films via its proprietary streaming service.
in a deal by Chicken Soup for the Soul Entertainment, in an all-stock transaction. Yes, the same company that produces the famed line of self-help books.Looking a little closer, the deal—valued at $375 million—begins to make more sense. Redbox has been struggling for years, becoming a publicly traded company in Oct. of 2021, and laying off 150 employees, around 10% of its workforce, just last month.
The question is, how much cultural cache is left in the Redbox name and brand at this point, when users have associated it for so long with a now-outdated mode of media consumption? There are reportedly still 40 million customers signed up for the Redbox loyalty program, which is an impressive figure, but how many of them intend to be active consumers of any form of Redbox streaming service?the merged company will be specifically targeting an opportunity they perceive at “the lower end of the...
Regardless, it doesn’t sound as if the Redbox kiosk at your local CVS is going to be ripped up at the roots any time soon—you can safely continue to ignore it as you pick up your prescriptions for the foreseeable future.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Crackle Owner Chicken Soup for the Soul Entertainment to Acquire RedboxThe $375 million all-stock deal is premised on growth in the free ad-supported streaming market.
Les mer »
Crackle Owner Chicken Soup for the Soul Entertainment to Acquire RedboxThe $375 million all-stock deal is premised on growth in the free ad-supported streaming market.
Les mer »
Ask Amy: Sober friend worries about friend’s enablingDear Amy: I am a recovering alcoholic, currently celebrating seven years of sobriety.
Les mer »
Dear Abby: I want to leave my wife now that her terrible mother lives with usI believe her elderly mother is more important to her than I am.
Les mer »
These 4 Meat Products Are Being Pulled From Grocery Shelves in 15 States — Eat This Not ThatFour meat items are being recalled from grocery stores. A chicken Caesar salad kit, Brunswick stew, deli meat, and pre-cooked chicken breast.
Les mer »