PrintRedbox® Announces Agreement with Circle K to Expand Availability of DVD Rental Kiosks
For immediate release: May 20, 2009
Oakbrook Terrace, Ill. – Redbox Automated Retail, a wholly-owned subsidiary of Coinstar, Inc., announces an agreement with Circle K to expand the presence of its redbox fully automated DVD rental kiosks. Redbox kiosks are currently installed at select Circle K stores in Arizona, California and Ohio. The agreement will expand redbox kiosks to more locations throughout the Circle K network.
“Redbox continues to expand our footprint nationwide as consumers seek the convenience and value of redbox fully automated DVD rentals,” said Mitch Lowe, president, redbox. “The convenience store channel provides new opportunities for redbox to service more consumers, and we are proud to expand our presence at Circle K, an industry leader.”
Redbox is available at more than 15,000 locations nationwide, including select McDonald’s® restaurants, leading grocery and convenience stores, and Wal-Mart and Walgreens stores in select markets. The company has served millions of customers and has rented more than 380 million DVDs to date.
Each fully automated redbox kiosk holds approximately 700 DVDs, representing up to 200 of the newest movie releases. Consumers simply use a touch screen to select their favorite movies, swipe a valid credit or debit card and go. Customers can keep the DVD for as long as they’d like for $1 per night plus tax, and return it to any one of redbox’s more than 15,000 locations nationwide. After 25 nights, rental charges cease and the DVD is the customer’s to keep.
For added convenience, customers also can visit www.redbox.com to choose their DVD online and pick it up immediately at the redbox location of their choice.
About Redbox
Redbox Automated Retail, LLC, a wholly-owned subsidiary of Coinstar, Inc., offers new release DVD rentals for $1 per night through its network of conveniently located, self-service kiosks. Redbox is available at more than 15,000 locations nationwide, including select McDonald’s restaurants, leading grocery and convenience stores, and Walmart and Walgreens locations in select markets. Redbox Automated Retail, LLC is wholly-owned by Coinstar, Inc. (NASDAQ: CSTR), a multi-national company offering a range of 4th Wall® solutions for retailers’ front of store. For more information about redbox, visit www.redbox.com.
Forward-Looking Statement
Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The words "believe," "estimate," "expect," "intend," "anticipate," "goals," variations of such words, and similar expressions identify forward-looking statements, but their absence does not mean that the statement is not forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from the results expressed or implied in such statements. Differences may result from actions taken by Coinstar, Inc., as well as from risks and uncertainties beyond Coinstar, Inc.'s control. Such risks and uncertainties include, but are not limited to, changes in the number of anticipated installations, the termination, non-renewal or renegotiation on materially adverse terms of our contracts with our significant retailers, payment of increased service fees to retailers, the ability to attract new retailers, penetrate new markets and distribution channels, cross-sell our products and services and react to changing consumer demands, the ability to achieve the strategic and financial objectives for our entry into or expansion of new businesses, the ability to adequately protect our intellectual property, and the application of substantial federal, state, local and foreign laws and regulations specific to our business. The foregoing list of risks and uncertainties is illustrative, but by no means exhaustive. For more information on factors that may affect future performance, please review "Risk Factors" described in Item 1A of Part I of our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission. These forward-looking statements reflect Coinstar, Inc.'s expectations as of the date of this release. Coinstar, Inc. undertakes no obligation to update the information provided herein.