Redbox on December 31, the previous record of 2 million movies rented on New Year’s Eve to surpass one analyst. Citing data from a commissioned survey of 1,014 adults conducted by Kelton Research in Los Angeles, Redbox said 47% of respondents said they plan to rent movies on New Year’s Eve.
Redbox is offering special discounts to consumers, including a free rent for every three titles (including Blu-ray Disc) simultaneously leased, and two free rent with five titles rented at the same time. Competitor Blockbuster Express, owned and operated by NCR Corp., offers three holiday for the price of two with the code # HNY987.
Michael Pachter of Wedbush Securities in Los Angeles said Redbox rental transactions will be 500 million more than in 2010, reducing the chance of topping 2 million transactions on New Year’s Eve (and possibly Friday) is likely. Colleague Edward Woo said fourth quarter revenue projection for Redbox is about $ 360 million, which average about $ 4 million in revenue per day based on 90 days in the quarter. Woo said the estimated revenue is about $ 2 per rental in turn multiplied by about 2 million transactions, plus or minus video game rentals.
In addition, Redbox ends years, nearly 25,000 kiosks, compared with nearly 20,000 kiosks in 2009. Redbox A spokesman said the company can not predict to break the record but said consumers can Titles for New Year’s Eve reservation starts at midnight Dec. 30.
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