In a meeting with analysts, Redbox President Mitch Lowe reaffirmed the Coinstar-owned company’s plans to launch a Netflix “Watch Instantly” competitor this year. Coinstar CEO Paul Davis first confirmed the forthcoming service last year during an earnings call, though he would not specify whether the company’s Internet streaming service would utilize an all-you-can-eat pricing model or and a la carte model. Lowe has now confirmed that the service will be subscription-based, but he did not indicate price points for the service. Redbox currently owns and operates a large network of unmanned DVD rental kiosks located throughout the country. These self-service kiosks, which are stocked with new releases and popular recent titles, allow customers to rent DVDs for as little as $1. Redbox still has not revealed a partner for its upcoming streaming service, though rumors suggest Amazon may be the most likely candidate.
Redbox clarifies plans for subscription-based streaming Netflix rival
Updated Dec 19th, 2018 7:03PM EST
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