Redbox's owner files for bankruptcy after repeatedly missing payments and payroll: The company hasn’t paid employees in over a week and owes money to almost everyone in Hollywood ($970M in debt)
Redbox’s owner files for bankruptcy after repeatedly missing payments and payroll
300 million dollars of debt accrued per year. How are they losing so much money? Isn’t the point of Redbox that it has nearly 0 overhead? I’m imagining a field in Nebraska with kiosks arranged in identically spaced rows of length indescribable, warping along with the light whose freedom they’ve stolen. The crimson horde stand in opposition to the very nature of space, a concatenation in both part and whole, clawing at the space where sanity ends and reason begins.
And even then, their overhead would only be like $53 per month.
They more than likely took loans out to buy tbe dvds in bulk instead of paying up front. That’s why everyone in hollywood is owed money, they paid a bit up front and then promised the rest later.
I think it's that the parent company took out huge loans to buy Redbox. And that's the streaming service they setup has ongoing costs and overhead, like licencing. And the loans they took out to make their own content.
Them concatenations need maintenance and service persons for that crimson horde.
Yeah, $53 per month for the liminal legion. If anything, I’m overestimating.
Never have I read finer poetry.
I used to rent dvds from them regularly. Then one day I rented a dvd, got home, and discovered that someone had photocopied the barcode, put it on a blanc disc, returned that, and kept the dvd for themselves. While redbox customer service was able to refund my money, I stopped renting through them before too much longer.
They could have just copied the dvd without stealing it.
I mean, they could have sailed the high seas instead of resorting to lowly thievery.
How can they still operate with 1B in debt? There's no way they are ever going to be able to repay that in a reasonable time frame
obviously, they can't. that's why they filed for bankruptcy.
They should consider moving into their mom's basement too.
If they're gonna go outta business soon, I better keep an eye on this. I could get some real cheap movies, even though I doubt there will be anything I'd watch. I could relive the days where my family was able to keep a physical DVD from back in the ancient times when Netflix was not a streaming service.
Edit: Netflix was a scam artist even back then! Brought this up with my mother and she said Netflix charges us for the price of the DVD!
It might be kinda cool to have a personal Redbox in the basement cave
Just check ebay, most movies that are a few years old can be found for under $5 shipped. I still go back to DVD/Bluray copies of my favorite movies sometimes since content changes so often on streaming services.
That's how I got my favorite CD and Discman, among other things. If I ever get serious about collecting, I'm definitely going through them because I haven't had any problems (that they could prevent) with their services since I started getting things on them this year.
The last couple of times I went to a Redbox, I felt like all the movies were knock offs. To be fair, I have no idea if this is because they were or because I don't really watch advertisements and have no idea what's out.
I give the redbox a passing glance as I leave the grocery store to see which movies I should pirate. Rarely do I see something worth the effort.