Verizon Says Redbox Instant Won't be Profitable Until 2014

Posted Thu Jan 24, 2013 at 07:00 AM PST by Dick Ward

The company posted losses this year and is warning investors not to expect miracles.

The Redbox Instant streaming service is intriguing, especially because of the $9.00 monthly subscription that gets you four Blu-ray rentals. It's not going to be an overnight success though, and nobody knows that better than Verizon CFO Fran Shammo.

Shammo told analysts that he doesn't expect to see Redbox Instant helping out the bottom line until 2014. "They are all startups," he states, "and I would think that in 2014, these will really start to contribute to the overall profit."

Source: Home Media Magazine

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Tags: Verizon, Redbox, Redbox Instant (all tags)