Redbox isn’t all video game & DVD rentals anymore. Yes, the automated video rental company has over 40,000 Redbox kiosks out there in the wild (and they’re not going anywhere 😅), but they’ve shown that they’re more than just a DVD rental company…
In fact, while you were busy not paying attention to Redbox, the company expanded its rental horizons to free streaming. Today, Redbox signed a content deal with Fremantle to support its streaming ambitions.
The deal will add ad-support TV content to Redbox’s free streaming service, allowing the company to launch three new channels (mostly dedicated to game shows.)
The news was well-received by Redbox investors, which sent the stock climbing over 45% in session today. In after-hours trading, the stock fell 10%.
Redbox finished up its SPAC merger last week, which valued the company just shy of $700 million. It now trades under $RDBX. 💰