Redbox to raise movie and game rental rates

Just in time for the holiday season, Redbox will be raising the daily rates of its DVD rentals, and following this will be a somewhat substantial price increase for video game rentals in early January. Redbox promises this change will come alongside some improvements to the user experience — most notably in the form of personalized recommendations — as well as deals. This follows the company nixing its instant video streaming service Redbox Instant in October due to low user interest.

The change will kick off on December 2, at which point the price for renting a DVD from a Redbox kiosk will increase to $1.50 USD per day, a jump of $0.30. The price for renting Blu-ray movies will also be jumping, but a bit higher.

The daily rental rate for Blu-ray discs will be rising to $2 USD per day, an increase of $0.50. The highest price change won't happen until January 6, however, when the rate for video games will be $3 per day, an increase of $1.

Redbox's statement on why it is raising its rates didn't reveal much, with the company saying that it will boost the prices "to bring you the best value for the latest movie and games". The price hike for games, meanwhile, is said to be so Redbox can stock more big-name titles and add more games for the newer consoles in additional locations.

SOURCE: Redbox