Redbox Deploying Digital Video Signage on an Expected 4,000 Kiosks Through Partnership With Velocity MSC Expanding Promotional Capabilities

Rhea-AI Summary

Redbox (NASDAQ: RDBX) has announced the installation of digital video signage on over 2,000 kiosks across the U.S., with plans for nearly 4,000 total installations. This initiative is part of a collaboration with Velocity, enhancing promotional opportunities for new movie releases and its streaming service. The digital signage aims to engage millions of consumers in high-traffic locations. Direct ad sales will be managed by Redbox in partnership with Screenvision. The CEO emphasizes the potential for increased advertising capabilities and successful initial testing of the screens.

Positive

• Deployment of over 2,000 digital video signs enhances promotional capabilities for new movie releases.
• Partnership with Velocity allows Redbox to expand its advertising presence in various retail locations.
• Potential for increased visibility of Redbox's free streaming service.

Negative

• None.

With rollout more than 50% complete, screens provide Redbox a powerful new way to promote new movie releases as well as its free streaming service, and offer advertising opportunities that will be seen by millions of consumers in high traffic locations

CHICAGO--(BUSINESS WIRE)-- Redbox (NASDAQ: RDBX), a leading entertainment company, today announced it has deployed digital video signage on the top of over 2,000 kiosks across the US, with nearly 4,000 expected total installations. Through a partnership with Velocity, A Managed Service Company, the new video screens give the company a powerful new way to partner with Hollywood studios to promote new release movies, its rapidly growing free streaming service, as well as provide advertising opportunities for national and hyper-local media campaigns that will be seen by millions of consumers in high traffic locations.

Velocity, which has expanded its footprint of digital signage networks, will source, operate, and support the Redbox signage network. The addition of the Redbox network enhances Velocity’s grocery presence, which was initiated by its acquisition of Impax Media, a checkout aisle digital signage network, in September 2020. Velocity has strategically developed its digital-out-of-home (DOOH) media portfolio to create cross-industry partnerships that connect high-impact environments for its advertising customers.

“The addition of Velocity screens gives us a powerful new way to promote new release titles with our content partners including all major Hollywood studios, as well as provide brands and studios a uniquely customizable out of home campaign, while also promoting our free streaming service and Redbox Entertainment originals in high trafficked locations,” said Galen Smith, CEO, Redbox. “We’ve already seen success with the screens we’ve tested to date, and we’re excited to see this quickly scale and potentially grow to additional kiosks in the future.”

"Velocity has been very bullish on the retail sector and is continuously seeking additional partnerships to grow within the industry. We are proud to partner with Redbox to deliver an industry-leading digital signage solution to enhance and elevate the existing Redbox kiosks,” said Greg Kiley, Chairman and CEO of Velocity. “Redbox is a formidable presence in the retail space, especially in national grocery stores. We look forward to helping Redbox expand its advertising capabilities."

Direct ad sales for the new screens are handled by Redbox in partnership with Screenvision, and through connected programmatic exchanges.

About Redbox
Redbox (NASDAQ: RDBX) is a leading entertainment company that gives consumers access to a large variety of content across digital and physical media. The company operates a rapidly growing digital streaming service that provides both ad-supported (AVOD) and paid movies from Hollywood studios and hundreds of content partners, as well as over 120 channels of free ad supported streaming television (FAST). The Redbox app is available on major entertainment platforms that include Roku devices, connected TVs, gaming platforms, the web as well iOS and Android devices. Redbox also operates its popular kiosks across the US at thousands of retail locations – giving consumers affordable access to the latest in entertainment. The company produces, acquires, and distributes movies through its Redbox Entertainment™ label, providing rights to talent-led films that are distributed across Redbox’s digital and physical services as well as through third-party digital services. Headquartered just outside of Chicago, Redbox has offices in Los Angeles and Seattle. For more information visit www.redbox.com.

About Velocity MSC
Velocity delivers customized managed services such as IT support, network management, voice and data connectivity, multinational data networking, on-site repairs and service, field project rollouts and implementations, free-to-guest TV and Wi-Fi solutions, digital signage and DOOH media solutions, and more in the retail, hospitality, healthcare, and entertainment industries.

Founded in 2005, Velocity is a privately held company headquartered in Holland, Ohio. Today, the company has approximately 500 employees, 13 redundant data centers, 5,500+ certified technicians throughout the U.S., and 450 carrier agreements and is a CLEC in all 50 states. Velocity is a proud member of the DPAA. For more information: www.velocitymsc.com.

Forward-Looking Statements
Certain statements in this press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements in this release include statements regarding the Redbox management team’s expectations, hopes, beliefs, intentions or strategies regarding the future of its free streaming services. Forward-looking statements are not guarantees of future actions, results, performance or events, which may vary materially from those expressed or implied in such statements. Differences may result from actions taken by Redbox or their management, as well as from risks and uncertainties beyond their control. Such risks and uncertainties include, but are not limited to, changes adversely affecting the business in which Redbox is engaged, the risks associated with demand for Redbox’s services and vulnerability to industry downturns and regional or national downturns, competition from new and existing competitors, Redbox’s dependence upon third parties to provide certain content and services, and general economic and political conditions. The foregoing list of risks and uncertainties is illustrative but by no means exhaustive. For more information on factors that may affect Redbox, please review the “Risk Factors” and other disclosures described in Redbox’s (and previously Seaport Global Acquisition's) public reports filed with the SEC, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K as well as the preliminary and the definitive proxy statements filed with the SEC in connection with the solicitation of proxies for the meeting of stockholders that approved the business combination between Redbox and Seaport. These forward-looking statements reflect Redbox's expectations as of the date of this release. Redbox undertakes no obligation to update the information provided herein.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211202005234/en/

Peter Binazeski

Redbox

peter.binazeski@redbox.com

Sarah Sandoval Chambers

Velocity

schambers@velocitymsc.com

Source: Redbox

FAQ

What is Redbox's latest announcement regarding digital signage?

Redbox has deployed digital video signage on over 2,000 kiosks across the U.S. in partnership with Velocity, with nearly 4,000 installations planned.

How will the new video screens benefit Redbox?

The screens will promote new movie releases and Redbox's free streaming service while providing advertising opportunities.

What is the impact of Redbox's partnership with Velocity?

The partnership enhances Redbox's advertising capabilities and extends its digital signage network in retail locations.

What role does Screenvision play in Redbox's digital signage strategy?

Screenvision is a partner for managing direct ad sales for Redbox's new digital video screens.

When did Redbox announce the deployment of digital video signage?

Redbox announced the deployment in a press release dated recently.