Redbox Signs Promotional Agreement with Roku to Further Attract Multi-Platform Users

Rhea-AI Summary

Redbox has partnered with Roku to launch a promotional campaign aimed at boosting its streaming app's user base. Starting now and running through mid-2022, customers purchasing Roku players at Walmart will receive a $5 streaming credit, redeemable via the Redbox app. This initiative is part of Redbox's strategy to enhance its streaming services, which now feature over 100 free ad-supported channels and thousands of movies, including popular titles like Hunter Killer and Rudy. Additionally, Redbox is set to go public through a merger with Seaport Global Acquisition Corp., trading under SGAM, SGAMU, SGAMW.

Positive

• Promotion with Roku expected to attract new users to the Redbox streaming app.
• Users will receive a $5 streaming code, enhancing customer engagement and retention.
• Expansion of free streaming services, including over 100 FAST channels and thousands of movies.

Negative

• No significant financial metrics or projections provided regarding the promotion's impact on revenue.

Starting now through mid-2022, a $5 Redbox streaming credit will be offered on Roku players sold exclusively at Walmart

CHICAGO--(BUSINESS WIRE)-- Redbox, a leading entertainment company, today announced it has signed a promotional agreement with Roku® to further attract multi-platform users to the Redbox streaming app. Starting now through mid-2022, consumers will receive a $5 streaming code on Roku players sold exclusively at Walmart. Consumers can then redeem these codes by downloading the Redbox app via their Roku player and the credit is immediately available to use towards movie rentals.

Redbox announced it has signed a promotional agreement with Roku to further attract multi-platform users to the Redbox streaming app. Starting now through mid-2022, consumers will receive a $5 streaming code on Roku players sold exclusively at Walmart. Consumers can then redeem these codes by downloading the Redbox app via their Roku player and the credit is immediately available to use towards movie rentals. (Photo: Business Wire)

Through this promotion, consumers will also be able to discover Redbox’s growing free streaming platforms, which include over 100 Free Ad Supported Streaming TV (FAST) channels and thousands of free movies through the Redbox Ad Supported Video on Demand (AVOD) service. This month viewers can stream for free Hunter Killer starring Gerard Butler and Gary Oldman, Enders Game starring Harrison Ford and Asa Butterfield, the classic Notre Dame Football movie Rudy, hit drama Big Fish starring Ewan McGregor, and 90s teen romantic comedy Can’t Hardly Wait starring Jennifer Love Hewitt.

“Roku has been a great partner on this unique promotion which gives us the ability to attract a large new audience to our streaming app,” said Galen Smith, CEO, Redbox. “We’ve been rapidly expanding our free streaming services, and I know consumers will find a lot of great content to enjoy.”

About Redbox

Redbox is America's leading destination for affordable new-release movies and entertainment with more ways to watch than any other home entertainment provider. Redbox delivers value and convenience through unparalleled choice across content, platforms, rental and purchase options, and price points. The company recently announced a definitive agreement to combine with Seaport Global Acquisition Corp. (Nasdaq: "SGAM," "SGAMU," and "SGAMW"), a publicly traded special purpose acquisition company. The transaction, which will result in Redbox becoming a publicly traded company, is expected to accelerate Redbox's ongoing transformation to offer customers and partners a multi-product experience across physical and digital channels. The company's expanding streaming offering includes digital rental and purchase as well as free live TV and free On Demand content and complements Redbox's nationwide footprint of entertainment kiosks, conveniently located where consumers already shop. Redbox Entertainment, a new content acquisition, and production division, has further transformed Redbox into a multi-channel content provider. For more information, visit redbox.com.

Roku is a registered trademark of Roku, Inc. in the U.S. and in other countries. Trade names, trademarks and service marks of other companies appearing in this press release are the property of their respective holders.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210927005258/en/

Peter Binazeski

Redbox

peter.binazeski@redbox.com

Source: Redbox

FAQ

What is the Redbox and Roku promotional agreement about?

Redbox has signed a promotional agreement with Roku to offer a $5 streaming credit to consumers who purchase Roku players at Walmart.

How long will the Redbox streaming credit promotion last?

The promotion is set to run from now through mid-2022.

What titles are available for streaming on Redbox as part of this promotion?

Titles include Hunter Killer, Enders Game, Rudy, Big Fish, and Can’t Hardly Wait.

What is the relationship between Redbox and Seaport Global Acquisition Corp?

Redbox is merging with Seaport Global Acquisition Corp. to become a publicly traded company.

Under what ticker symbols will Redbox trade after the merger?

Redbox is expected to trade under the ticker symbols SGAM, SGAMU, and SGAMW.