Redbox to Raise DVD Rental Prices
Normally this would be a sick Halloween trick, but this is no treat either. Starting Monday October 31st Redbox is to raise its DVD rental prices by 20%. Going from a $1 a day rental model and bumping up its rental prices of DVD movies to $1.20 a day.
You would have thought that services like Rebox would have learned from the Netflix fiasco recently but they went ahead and followed suit and raised their prices. Not exactly sure what the cause of the rental price increase we can only speculate it has something to do with the movie studios.
The company also announced that effective October 31, 2011, the price for renting a redbox standard definition DVD would increase to a $1.20 daily rate from $1.00. The prices for Blu-ray format movie rentals and for video game rentals will not change and the daily rates will continue to be $1.50 and $2.00, respectively.
“We remain committed to providing redbox consumers access to the latest movies at an incredible value,” said Davis. “This marks the first price increase for a redbox standard definition DVD rental in eight years. The change is primarily due to the increase in operating expenses, including the recent increase in debit card interchange fees as a result of the Durbin Amendment.”