Redbox Launches Event-Ticketing Service

Redbox is making a push into the event-ticketing market amid fears that demand for DVD rentals is declining

Last Updated: October 3, 2012 @ 11:37 AM

Redbox is getting into the ticketing business.

The Coinstar-owned DVD rental company announced Wednesday that it has begun selling event tickets at some of its 650 kiosks and online in the Philadelphia area.

The company plans to introduce the ticketing feature at all kiosks in the next few weeks.

The tickets will be sold at or below face value, plus a $1 fee per ticket.

"For the past 10 years, Redbox has made movie rentals convenient and affordable for consumers, and now we're bringing the same access to more entertainment with Redbox Tickets," Anne Saunders, the company's president, said in a statement. 

Also read: Redbox Founder to Step Down Early Next Year

Redbox partnered with New Era Tickets and Sparkart, allowing customers to order tickets online and print them at home.

Gregg Kaplan, Redbox's founder and former CEO, announced in August that he planned to step down by March 2013, amid fears that growth in the DVD rental market was slowing.

Saunders started in late August, taking the reins on a new initiative, in partnership with Verizon, to launch a Netflix-like streaming service.

The ticketing and streaming services come at a time when investors seem to have cooled to the kiosk-based service as sales of DVDs appear to be in irreversible decline.

Redbox reported in July that its revenue climbed 26 percent over the previous year to $458 million, but the company had much faster growth in the first quarter, when it experienced a 39 percent surge.