Now Redbox Is Raising Prices

DVD rentals to cost $1.20 per night
By Matt Cantor,  Newser User
Posted Oct 28, 2011 9:34 AM CDT
A man rents a DVD at a Redbox kiosk.   (AP Photo/Damian Dovarganes)

(Newser) – With Netflix still reeling from its price-hike debacle, you’d think Redbox would hold off on any increases. Instead, the rental kiosk company is raising the per-night price of a DVD rental from $1 to $1.20, Mashable reports. The bump, announced yesterday, takes effect on Halloween. “This marks the first price increase for a Redbox standard-definition DVD rental in eight years,” said Paul Davis, CEO of Redbox parent firm Coinstar.

Blu-Ray and video game prices will remain the same. In its quarterly report, Redbox said its earnings had almost doubled, the AP notes; this year, the company has seen more than $1 billion in sales. Davis said higher operating costs prompted the price increase. Redbox is also reportedly planning its first national ad campaign, though the company says no announcements have been made on that front.

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