Redbox Roulette: Gambling With the Industry's Future
October, 07, 2009 12:06 pm | On #DVDs, Hastings Entertainment, Redbox, video rentalsTheWrap recently ran a blog post by Redbox CEO Mitch Lowe titled, "We Are the Engine for Industry Growth." Lowe states that Redbox’s business -- based on $1 DVD rentals -- will "grow overall interest in and purchase of DVD entertainment."
As the CEO of a Hastings Entertainment, a retailer that pioneered low-cost rentals, I understand firsthand Lowe’s enthusiasm for $1 DVD rentals. Consumers love the price, and we love the increased business that $1 DVD rentals bring.
But there is one crucial issue involving $1 DVDs that Lowe fails to address -- and it must be acted upon if we want to prevent what is happening to the newspaper industry from...
Description
John Marmaduke has been president and CEO of Hastings Entertainment Inc. since 1976. He also serves on the board of directors of the Interactive Entertainment Merchants Association. Hastings is a multimedia-entertainment retail chain that does business in 20,000-foot superstores and on goHastings.com. Hastings stores deal in books, videos, CDs and video games.
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