Scalper1 News
Looking to get more green from its existing customers, Redbox is hiking the price for renting movies from its kiosks starting Dec. 2. Redbox parent Outerwall (OUTR) on Monday announced new daily rental prices for DVDs, Blu-ray Discs and video game discs in the U.S. Starting next week, the daily rental rate for DVDs will increase from $1.20 to $1.50, and the daily rental rate for a Blu-ray Disc will increase from $1.50 to $2. Beginning Jan. 6, the daily rental rate for video games will increase from $2 to $3. The new prices were chosen after several months of market testing, Outerwall said in a press release. The price hikes translate to a 25% increase for DVD rentals, a 33% increase for Blu-ray Discs and a 50% increase for video games. Investors cheered the higher prices. Outerwall was up 7%, near 68, in morning trading in… Scalper1 News
Scalper1 News