Redbox is raising its DVD rental price by 25%, in a move that could improve the company’s stagnant bottom line and help the Outerwall Inc. unit invest in new technology.
At the same time, Redbox OUTR, +9.38% is launching a recommendation engine similar to the one that has contributed to the success of competitor Netflix Inc.NFLX, -1.04% by steering customers to movies and TV shows they are likely to enjoy.
“Creating a business plan that allows us to make these investments in the future is important,” said Redbox President Mark Horak, who said the company also is investing in mobile technology and the more efficient stocking of its kiosks, which are located in grocery stores and other businesses.
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