An unsuccessful trip to Redbox.com shows the former DVD rental giant is nearly gone.
Redbox is deadbox.
Chicken Soup for the Soul Entertainment acquired Redbox officially in 2022. As reported in business media outlets across the nation, Chicken Soup for the Soul Entertainment converted its bankruptcy process into a liquidation process on July 10, causing the layoff of more than 1,000 people across the United States.
An initial search for active kiosks in Springfield turned up nothing on July 11. With some additional digging, it’s been determined that the company most recently operated at least 18 movie and video game rental kiosks in Springfield, four in Ozark, four in Nixa, three in Republic and one in Willard.
At 2 p.m. on July 11, the Redbox kiosk at the Walgreens pharmacy at the corner of Grand Street and Kansas Expressway in Springfield was still powered and operating, offering customers movies for rent and for sale. The duration of time the kiosks in southwest Missouri will keep operating is to be determined, and a bankruptcy trustee will likely determine the speed and schedule of Redbox’s liquidation.
As recently as August 2023, Chicken Soup for the Soul Entertainment claimed more than 40 million people were enrolled in the Redbox Perks program, and that the company operated more than 29,000 rental kiosks. That tally is down from the 38,000 kiosks declared in 2022 when Chicken Soup for the Soul Entertainment reached an agreement to acquire Redbox.
Redbox’s earning potential reportedly peaked in 2013, when it did $1.97 billion in revenue. The rise in popularity of streaming platforms and a decline in physical media caused Redbox’s yearly earnings to fall, although its parent company claimed an expectation of $500 million in revenue in 2023.
Redbox offers free advertising-supported television (FAST) through its Redbox Free Live TV app. It also marketed transaction-based video on demand (TVOD). The streaming service launched in 2017. The streaming apps did not function on July 11.
