Redbox Discontinues Instant Rentals
The online streaming site Redbox Instant, recently announced that due to poor business, it will discontinue its’ services. The Redbox company is run by Verizon Communications and Outerwall Inc. According to the Huffington Post, the joint companies released the following statement, “The joint venture partners made this decision after careful consideration.The service had not been as successful as either partner hoped it would be.”
For some, Redbox’s closing may not seem surprising due to the competition with other online streaming sites such as Hulu Plus and Netflix. However, is it possible that the kiosks are the next to go? Earlier in the year, The Verge had reported Redbox closing 500 of their kiosks. Though as of right now, there are no reports as to whether or not the companies will shut down more kiosks.
Huffington Post also stated, “Subscribers will receive an email notifying them of the termination of the service. A separate email will be sent on Oct. 10 with details on refunds, the statement said.”