Redbox to increase DVD rental feesDespite the fallout that Netflix had with its customers earlier this year, it looks like customers who left the service didn’t hop over to one of its main competitors: Redbox. Earlier today, Coinbox released the Q3 2011 financial report for its Redbox DVD rental service, and it didn’t do as well as expected. Redbox made $465.6 million in revenues last quarter – just a bit more than analysts’ forecast of $462 million and in between the company’s own forecast of between $450 million and $470 million.

And to make things worse, Redbox has announced that it will also be raising the prices of its DVD rentals – from $1.00 daily to $1.20. Fortunately its Blu-ray disc and video game rentals will remain at the same daily rates ($1.50 and $2.00 respectively). It’s uncertain how consumers will handle this slight increase in price but if we were to learn anything from the past – they’re never happy about it.

Redbox’s new fees for its DVD rentals will take effect next Monday, October 31st. What do you think of the price hike?

[Press Release]

This article was filed in Homepage > Home and was tagged with financial report, q3 2011 and redbox.
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