Redbox is closing all of its rental kiosks2024-07-11 18:15 by DanielaTags: Redbox
In another nail in the coffin of physical media, Redbox is shutting down after more than two decades of serving up DVD rentals from thousands of kiosks across the U.S. Redbox's network of 24,000 DVD rental kiosks and its streaming services will be shut down after its parent company, Chicken Soup for the Soul Entertainment, converted its Chapter 11 bankruptcy case to a Chapter 7 liquidation proceeding on Wednesday. Redbox kiosks, which are typically located in groceries and convenience stores, used to rent out movie DVDs and Blu-ray discs, as well as video games. In 2019, however, it stopped renting out video games to focus on movie rentals and its on-demand streaming service. The company is long past its prime, and its rental service is nowhere near as appealing these days with all the streaming services out there. In fact, the bankruptcy proceedings have revealed that Redbox's payroll obligations were higher than it earnings. Still, the kiosks continued to serve people with no access to a strong and steady internet connection, who'll now have to say goodbye to being able to rent a DVD or two whenever they step out to run errands. Read more -here-
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