Redbox Enters The Netflix Dojo, Dips Fists in Glue and Broken Glass
Courtesy of Joshua M Brown, The Reformed Broker
Another year, another Netflix ($NFLX) killer – this time, the venerable vending machine powerhouse Redbox.
Eric Savitz at Barron’s Tech Trader Daily is blogging that in 2011, the parent company of Redbox, Coinstar ($CSTR), will have streaming movies on the web operational…
…the company is confident that “physical DVDs and Redbox kiosks will remain relevant for a very long time to come.” But he added that consumers have told the company they want a broader selection than the kiosks provide. “So, while we are confident in the future of DVDs, we believe an expanded offering via digital could be a natural evolution to augment our core business,” he said.
Many incredibly tough competitors have challenged Netflix (aka the hottest stock in the universe) to the blaring fanfare of trumpets and beating drums. Each of these competitors has been sent sauntering away with its tail between its legs.
Redbox is looking at potential partnerships to get their service launched, so maybe this would be Amazon’s ($AMZN) chance to get in the game. Maybe the reorganizing Blockbuster gets in Redbox’s good graces for a team-up. Possibly a consortium of studios wants in, a la Hulu. We shall see.
Source:
Coinstar’s Redbox Plans 2011 Launch for Web-based Streaming (Tech Trader Daily)
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