Apparently Redbox parent company Coinstar may get into the movie ticket selling business in the not so distant future.
It’s become so gosche to purchase your movie tickets at the theater, but what if you could do it from one of the 37,000 Redbox kiosks scattered across 30,000 locations around the United States? According to a report from Deadline, that’s exactly what Wedbush Securities’ Michael Pachter thinks may be up the company’s sleeve.
At a analysts meeting earlier this week with Coinstar, the company hinted that it was working on a “new Redbox venture,” and while no details were given, Pachter thinks it is an initiative to drive more customers to the higher profit locations of movie theaters. Considering the strained relationship the kiosk company has had with the film studios, this might not be the worst idea to ever happen. All the company would say was that whatever this new venture is, the first test would be happening some time this year.
Also discussed at the meeting was the Redbox Instant video streaming service that was announced back in February. No launch date or pricing for the service has been announced as of yet, but apparently indications are that whatever the fee ends up being will include unlimited streaming and a set number of rentals from the kiosks each month.
It seems Coinstar has big plans for kiosks in general with plans for rolling out machines for redemptions on unused gift cards, turning in used cell phones, places to buy coffee, beauty products and prepared foods … if the company isn’t careful, the U.S. could quickly end up looking like Japan.