Is Redbox Going Out Of Business in 2024?

About Redbox

Redbox Automated Retail LLC. is an American video-on-demand streaming and video rental company specializing in DVD, Blu-ray 4k UHD rentals and purchases.. It was was developed in Chicago as a part of ‘Project 361,’ a McDonalds business expansion initiative.

Services Offered By Redbox

- Redbox Free Live TV - Redbox Instant - Redbox On Demand - Redbox+

The Rise of Redbox

In 2007, Redbox surpassed Blockbuster in the number of US locations & passed 100 million rentals in February 2008.

The Rise of Redbox

By September 2010, Rebox passed 1 billion rentals and was in the game with competitors like Netflix, Blockbuster, and Movie Gallery.

The Fall of Redbox

Redbox's revenue fell sharply after its parent company was acquired. The company's revenue fell 20% in 2019, 36% in 2020, and over 50% in 2021.

Top Shareholders Of Redbox

1. Apollo Management Holdings, L.P. 2. Vanguard Group Inc 3. JANE STREET GROUP, LLC

Is Redbox Going Out Of Business?

Redbox tried to adapt to the chain marketing trends, that is- switching from renting DVDs via kiosks to delivering on-demand videos but to no avail.. Chicken Soup For The Soul Entertainment has acquired Redbox now.