While its own streaming service struggled hard stay out of the red but eventually closed, Redbox is now raising prices of DVD and Blu-ray rentals at kiosks to stay competitive against the likes of Netflix and Amazon Instant Video.
The number of Redbox kiosks aren't expected to be immediately changed by the price hikes, but the company said it's preparing to roll out features that will immediately bolster its service.
"With the changes, we're going to bring you more of what you love about Redbox, including more personalized recommendations and deals, and improvements to the Redbox experience," states Redbox.
The 30-cent price hike will be levied on Dec. 2, bringing the cost of DVD rentals to $1.50 per day. Blu-ray rentals will get a 50-cent hike in cost that'll bring them up to $2 each day.
On Jan. 6, 2015, video games rentals will balloon from $1 per day to $3. It could actually be more, given Redbox is cautioning prices may vary based on location.
For those with rentals in hand at home, the prices listed during checkout will apply when they're returned.
Redbox says it regularly tests new pricing schemes as it looks for ways to improve the service without compromising the affordability of kiosk rentals. It says it wants to fatten its selection with more top movies and bring games for new-gen consoles to more cities in 2015.
"We raised our prices to continue to bring you the best value for the latest movies and games on the formats you want, including Blu-ray (for the highest-quality viewing experience) and new-generation games. We're also investing to improve your experience at redbox.com, on our mobile apps and at the box," stated Redbox.
Back on Oct. 7, Rebox and Coinstar parent Outerwall announced it was preparing to shutter Redbox Instant. The streaming-video service was the product of a joint venture between Outerwall and Verizon.
On Oct. 10, Redbox Instant was shut down and its team began to refund subscribers. J. Scott Di Valerio, Outerwall's chief executive officer, pointed to a weak schedule of summer releases and indicated that the company was going to place its focus back on its core services.
"June represented the lowest monthly theatrical box office in Redbox history," stated Di Valerio. "[The] Box office in June was down 83 percent from June 2013 as only four titles were released during the month."
