Scalper1 News
With DVD rentals slowing, Redbox kiosk operator Outerwall (OUTR) plans to squeeze more profit from the business by removing underperforming machines and potentially raising prices. Outerwall (OUTR) late Thursday said Redbox sales fell 7% year over year to $445.5 million in the second quarter. The number of Redbox movie rentals fell 9% to 169.3 million, which Outerwall blamed on a weak movie release slate. “June represented the lowest monthly theatrical box office in Redbox history,” Outerwall CEO Scott Di Valerio said in a statement. “Box office in June was down 83% from June 2013, as only four titles were released during the month.” Net revenue per rental was $2.63, an increase of 2.7% from the second quarter Scalper1 News
Scalper1 News