Redbox is raising the prices of their DVD rentals to $1.20 per day. Movies on Blu-ray, currently $1.50, and game rentals, currently $2.00, will remain the same.
Redbox kiosks, which are located in shopping centers, grocery stores, and many McDonald’s across the country, have been renting DVD movies for $1 a day for the past eight years. Approximately 27,800 redbox kiosks are located in the US.
According to a statement from redbox, released minutes ago, the price increase reflects an increase in operating costs. According to their website, the $.20 price increase has been under consideration for months, and it was decided that the $.20 increase would “work best to keep prices as low as possible.”
The price change is scheduled to take effect on Monday, October 31. To ease the transition to the new price, redbox says it will discount the first night of online DVD rentals to $1 through November. Additional nights during November will be charged at the $1.20 rate.
Redbox said they would continue to honor promo codes as before. As an example they said a $.50 promo code would continue to provide $.50 off. DVDs rented prior to the price increase will continue at the previous $1 per day rate until it is returned.