Coinstar’s sale up 31 percent thanks to the growth of its kiosk movie rental business
Redbox users will soon be able to get their game on.
By the end of June, the kiosk company will start offering video games for PlayStation 3, Nintendo Wii and Xbox 360. The games will rent for $2.00 — a dollar more than DVDs.
Redbox had been experimenting with video game rentals in limited markets for over a year. They will be available in 21,000 of Redbox's over 27,000 locations.
Those bright red vending machines are a boon to Redbox's parent company Coinstar. Thanks largely to growth in the Redbox business, first-quarter profits for Coinstar hit $8.5 million, or 26 cents a share, up 31.9 percent from $6.4 million, or 21 cents, a year ago. Sales jumped 31 percent to $424.1 million.