What video rental store, with over 5000 locations worldwide, recently announced their bankruptcy, after getting slaughtered in the marketplace by Redbox and Netflix?
Redbox the company. While traditional brick and mortar rental stores were closing at a high rate, Redbox moved into existing retail locations such as supermarkets, and placed kiosks within them or outside of them in order to gain that consumer base. The company surpassed Blockbuster in 2007 in number of U.S. locations, passed 100 million rentals in February 2008, and passed 1 billion rentals in September 2010. Current and former competitors include Netflix, Blockbuster, Movie Gallery and its subsidiary Hollywood Video, West Coast Video and Family Video along with other DVD by mail rental services. In Q2 2011, kiosks accounted for
Redbox Redbox Redbox Automated Retail LLC is an American company specializing in DVD, Blu-ray, 4K UHD and video game rentals via automated retail kiosks. Redbox kiosks feature the company's signature red color and are located at convenience stores, fast food restaurants, grocery stores, mass retailers, and pharmacies. As of the end of November 2012, Redbox had over 42,000 kiosks at more than 34,000 locations. As of September 2016, Redbox had 51.8% market share of the physical rental market. Redbox Automated Retail LLC was initially funded by McDonald's Corporation. Originally the kiosks sold a variety of products under the name Ticktok Easy