As the torch of video rental stores are sequentially extinguished across the country, Redbox moves to the forefront of disc rentals. With Netflix focusing on being a steaming video platform, Redbox continues to see its rental business boom, taking 50% of the market share.
Redbox parent company, Outerwall, reported 186.7 million disc rentals this quarter. Films such as “Jack Reacher,” “Silver Linings Playbook,” and “Django Unchained” were popular choices by consumers during the second quarter.
Some of the rising success of Redbox can be attributed to Netflix losing nearly half a million DVD-by-mail subscribers this quarter. Redbox aims to challenge Netflix’s hold on streaming services by offering Redbox Instant.