It's The End Of Another Era, Good Bye, Redbox

Stopping at my favorite Town Pump this morning, I saw a note on the Redbox machine and I was compelled to go read it.

It's the nature of life, isn't it? Something dies while another thing thrives in its place.  We don't have milkmen anymore either.  It made me kind of sad because it's the end of an era. First thing I thought is "streaming has finally killed Redbox".

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The note reads:

"Dear Valued Customers, we kindly request that all movies be returned no later than Friday, June 14th.  Please note that this kiosk will be permanently shut down thereafter.  We appreciate your cooperation and support.  Thank you for being a valued part of our community.  Thank you"

Redbox great falls montana
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Then I Wondered, "Are They Doing This All Over America?"

That is not an easy question to get answered.  I can tell you, from some of the articles I've read today, some back way before the pandemic, some during the pandemic and some from relatively recently, and it seems that for Redbox, hindsight really is 20/20. Lowpass reported the whole ordeal pretty well, stating

At the time, (CSFS acquired Redbox) the two companies celebrated the deal as a way to combine physical and digital, with Chicken Soup for the Soul Entertainment CEO Bill Rouhana predicting that Redbox’s business would rebound after the end of a pandemic-related industry-wide slowdown. He even told Indiewire that his company could become “the next Disney.”


Chicken Soup For The Soul Entertainment Is DEEP In The Hole

Lowpass reports that there are vendors all over America demanding the kiosk's be removed largely due to non-payment from Redbox. When Chicken Soup For The Soul Entertainment bought Redbox, they also took their  $325 million of debt.

The large debt means they can't afford the fees for new movies in any Redbox kiosk (notice the big push on this Redbox is for Barbie which came out in July, 2023) meaning less people using Redbox rentals and less cash on hand for the struggling company.

One has to wonder, if you bought a digital movie from Redbox and they're not paying their bills, when they go out of business do you lose that movie?  DVD talk forum says they feel like you'll lose it.

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Wall Street Has Also Noticed

Chicken Soup For the Soul Entertainment's stock price has dropped from a high of $42 in 2021 to just 15 cents a share when the Lowpass article was published in March.  Chances are good they'll be dropped.

Where do we go to rent discs anymore?  Nowhere.  Movies on discs are the game of a movie buyer.  Thinking about it, it may be worth collecting again.

Redbox, Town Pump, Great Falls, Montana

Redbox, Town Pump, Great Falls, Montana

Gallery Credit: Tammie Toren

Gibson Park, Great Falls, Montana

Gibson Park

Gallery Credit: Tammie Toren

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