Redbox Joins the Greedy Club – They are no longer $1
October 29, 2011 Economy, Entertainment, TheBuzz
Ok…
So your a big red box fan huh? You think its groovy and swell to run to the local red box and pick up a dvd with scratches and take it home for $1.00, Well have you heard the news they are raising their prices.. so they will no longer be just $1.00, up to $1.20 or $1.40 in places. They say this is because their banking credit card transaction fees increase and oh they haven’t done a price increase in 8 years, but reports of last quarter profits are through the roof, so to the people who have rented and made them a success so far they slap in the face with a price hike as such during a down economy when people can barely even buy a gallon of milk for their home. It will be interesting to see people’s shocked faces at the kiosks with the new pricing when especially the kisoks will probably still say $1 DVD rentals. Oh wait that will be next step to change pricing on all the kiosks, hmmn who will be paying for that expense? Think redbox will absorb that one? Why would they if they are making the customers who made the a big hit pay some little card transaction fee increase, Seems to me those fees should be just part of doing business using credit card transactions. Or just maybe its a redbox executive that needs to buy another yacht or has some extra Christmas spending they need to do. I use to think highly of redbox until this notice came out, I will not give into their game and pay a higher price. Maybe they should take a little less profits and keep customers loyal. Besides I can still go rent from blockbuster express kiosk for still $1.00
For more about this trash move that redbox has decided to do on their customers read about here.
Note: Redbox parent company Coinstar Inc. earned $37.1 million in last 3 months, last year they made $466 million, and well on the way to doubling that this year, unless we all stop renting because the price increase. They say they did a test in few cities and concluded that renting patterns wouldnt change so much, well maybe they need a BIG SLAP like netflix got, Its time to let these greed corporate companies know we are who pays their paychecks. But they think they can dictate our lives. WRONG, this si why their is the Occupy Movement!!
Back to watching movies online for free!!
