Redbox Signs Ad Supported Video on Demand (AVOD) Deal With WarnerMedia and Adds AVOD Titles From Sony Pictures Television, Accelerating Expansion of Free Streaming Service

Rhea-AI Summary

Redbox (NASDAQ: RDBX) has announced a significant expansion of its Ad Supported Video on Demand (AVOD) service through new content deals with WarnerMedia and Sony Pictures. Notable films like The Astronaut’s Wife, Collateral Damage, and Resident Evil: Retribution will be available for free streaming. Redbox aims to enhance viewer experience by adding more titles monthly from these studios, as part of a broader strategy to grow its digital streaming platform, which already includes thousands of films and over 120 FAST channels.

Positive

• New partnerships with WarnerMedia and Sony Pictures enhance content library.
• Expansion of AVOD service aims to attract more viewers to the streaming platform.
• Plans to consistently add new titles monthly will keep the service fresh and engaging.

Negative

• None.

WarnerMedia films debuting include The Astronaut’s Wife, Collateral Damage, and The Long Kiss Goodnight

Sony Pictures AVOD titles coming to Redbox include Resident Evil: Retribution, Underworld: Evolution, We Own the Night, and Universal Soldier: Day of Reckoning

CHICAGO--(BUSINESS WIRE)-- Redbox (Nasdaq: RDBX), a leading entertainment company, today announced it has signed an Ad Supported Video on Demand (AVOD) deal with WarnerMedia to bring select titles from the company’s iconic catalog to its free streaming service. In addition, Redbox announced it will add film titles from Sony Pictures Television to its AVOD streaming service including Resident Evil: Retribution, Underworld: Evolution, We Own the Night, and Universal Soldier: Day of Reckoning.

The company’s content deal with WarnerMedia adds Ad Supported Video on Demand (AVOD) movies on a monthly basis, starting with The Astronaut’s Wife, Collateral Damage, and The Long Kiss Goodnight, among others. Additional Warner Bros. titles coming to Redbox’s free streaming service include Transcendence, Arthur, Contact, No Reservations, The Upside of Anger, City By The Sea, Ready to Rumble, City of Angels, Pleasantville, The Postman, Boogie Nights, Forever Young, Doc Hollywood, JFK, Joe Versus the Volcano, and Tango & Cash.

“WarnerMedia and Sony Pictures both have amazing film catalogs which our audience will enjoy for hours on end, and they will be completely free,” said Galen Smith, CEO of Redbox. “We look forward to growing the number of films offered through our AVOD streaming service from both studios in the coming months.”

Redbox has aggressively scaled its ad-supported video on demand (AVOD) streaming service to include thousands of popular films and television series in the past year while also growing to more than 120 FAST Channels available in its Free Live TV service, with plans to add more in the coming months.

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.

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/20211109005674/en/

Peter Binazeski

Redbox

peter.binazeski@redbox.com

 

Source: Redbox

FAQ

What new films are being added to Redbox's AVOD service?

Redbox is adding films such as The Astronaut’s Wife, Collateral Damage, and Resident Evil: Retribution to its AVOD service.

What is the significance of the partnership with WarnerMedia and Sony Pictures?

The partnerships allow Redbox to expand its content offerings in its free streaming service, enhancing viewer engagement.

How will the new titles affect Redbox's strategy?

Adding new titles monthly from WarnerMedia and Sony Pictures is part of Redbox's strategy to grow its AVOD streaming service and attract more viewers.

What is Redbox's focus regarding its AVOD service?

Redbox focuses on aggressively scaling its AVOD service by offering a wide variety of films and over 120 FAST channels.