Redbox surpasses 2 billion movie and video game rentals

By on March 7, 2012 at 9:35 PM.

Redbox surpasses 2 billion movie and video game rentals

Redbox announced this week that the company crossed the two billion mark for movie and video game rentals. It will celebrate the milestone by offering a free, one-night movie rental with the code “THANKS2U” for one day only on Thursday. Redbox has seen substantial growth over the past 18 months, with one billion additional rentals, a feat that previously took six years to accomplish. “We’ve always known how much America loves easy, affordable entertainment, and today we can prove it two billion times over,” said Scott Di Valerio, chief financial officer of Redbox parent company Coinstar. “Just 18 months ago, we rented our one billionth DVD and we couldn’t be more excited to celebrate this remarkable second rental milestone with our customers.” Read on for Redbox’s press release. More →

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Sprint seeks an additional $2 billion from investors

By on February 27, 2012 at 2:50 PM.

Sprint seeks an additional $2 billion from investors

Sprint on Monday announced that the carrier is issuing another round of notes due in 2017 and 2020 in an attempt to generate approximately $2 billion in capital. The investment would allow Sprint to fund general operations, build out its LTE network and possibly help fund the Clearwire as it continues to struggle. “The company intends to use the net proceeds from the offering of the Notes for general corporate purposes, which may include, among other things, redemptions or service requirements of outstanding debt, network expansion and modernization and potential funding of Clearwire Corporation and its subsidiary Clearwire Communications LLC,” Sprint said. Read on for Sprint’s press release. More →

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Netflix streaming subscribers watched more than 2 billion hours of video during Q4

By on January 4, 2012 at 3:10 PM.

Netflix streaming subscribers watched more than 2 billion hours of video during Q4

Netflix announced on Wednesday that its streaming subscribers around the world watched more than 2 billion hours of video during the fourth quarter of 2011. The company also said it served more than 20 million streaming subscribers during the quarter. “We were thrilled to deliver more than two billion hours of TV shows and movies across 45 countries in the fourth quarter,” said Netflix Co-Founder and CEO Reed Hastings. “Netflix delights members by giving them choice, convenience and control over the entertainment they love for an incredibly low price.” The company lost 800,000 customers during the third quarter when it upset customers by raising its prices and then confused them with a short-lived attempt at a DVD rental spinoff business called Qwikster. Netflix is set to debut its original series “Lilyhammer” on February 6th and fresh content, such as Drive, Hugo, Captain America and Margin Call, will be available to customers in the coming months. The full Netflix announcement follows after the break. More →

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