Who is behind redbox

The automated kiosks, which offer Blu-ray, DVD and video game rentals, have struggled to compete with the rising popularity of digital streaming services such as Netflix.

Redbox is one of the last major retailers that offer physical film and video game rentals. Outerwall has estimated it would close as many 2, Redbox kiosks during It had 40, kiosks as of Dec.

Redbox partnered with Verizon to launch a streaming service in , but it failed to gain significant traction and was shut down the following year. Although the company began quietly testing a new streaming service titled Redbox Digital last week, the service is in its early stages and is not open to the public. Fighting for a comeback, Golden Globes group hires a chief diversity officer. Company Town. But it has also been steadily expanding into areas like transactional video on demand and free, ad-supported streaming, as well as setting up a division that acquires and co-finances a growing slate of original films.

Private equity firm Apollo Global Management, which took over Redbox in , will be majority shareholders in the new entity. It really becomes the case that it lifts all boats.

Smith rose to CEO in after being a finance exec and CFO at the company and its previous parents for several years. It really is the democratization of entertainment. Redbox Entertainment , meanwhile, launched about two years ago and has been ramping up toward its goal of generating three new films a month, or about 36 a year. Smith said reaching the target of 36 films a year will require more staff, which he expects to be added starting in Expand the sub menu Music.

Expand the sub menu Awards. Expand the sub menu Video. Expand the sub menu What to Hear. Expand the sub menu Digital. Expand the sub menu Theater. Expand the sub menu VIP. Expand the sub menu More Coverage. Expand the sub menu More Variety.

Switch edition between U. Asia Global. To help keep your account secure, please log-in again. You are no longer onsite at your organization. Please log in. For assistance, contact your corporate administrator. Source: Company Reports.