Company Snapshot: Redbox
1 Tower Lane
Oakbrook Terrace, IL 60181
Total Annual Sales:
Mitch Lowe- President
Ratnakar Lavu- CTO
Redbox, a subsidiary of Coinstar Inc., is currently a rather unique listing for Chain Store Guide. The Redbox listing is located in CSG’s database of Leading Chain Tenants. The listing represents a company which operates no brick and mortar stores, nor is it an Internet-only retailer.
Redbox operates nearly 40,000 kiosks which offer inexpensive overnight rentals of movies on DVD or video games. There are no late fees per se, simply an additional one night’s charge for each additional day a customer decides to keep the video.
Redbox is significant to this market as the company, along with Internet-based Netflix, is largely responsible for the demise of former brick and mortar powers (category killers) Movie Gallery and sister company Hollywood Video, and the sharp decline of Blockbuster.