Fresh off its successful IPO, Redbox continues to shop for content.
The ad-supported streaming company's latest deals mark its first ever major studio acquisitions for its AVOD platform, with select titles from WarnerMedia and Sony Pictures being added to Redbox Free On Demand.
Sony Pictures titles available for free on-demand viewing include Resident Evil: Retribution, Underworld: Evolution, We Own the Night, and Universal Soldier: Day of Reckoning.
Meanwhile, the agreement with WarnerMedia will add titles on a monthly basis, starting with The Astronaut’s Wife, Collateral Damage and The Long Kiss Goodnight, among others.
Additional Warner Bros. titles coming to Redbox’s free streaming service include Transcendence, Arthur, Contact, No Reservations, The Upside of Anger, City By The Sea, Ready to Rumble, City of Angels, Pleasantville, The Postman, Boogie Nights, Forever Young, Doc Hollywood, JFK, Joe Versus the Volcano, and Tango & Cash.
“WarnerMedia and Sony Pictures both have amazing film catalogs which our audience will enjoy for hours on end, and they will be completely free,” said Galen Smith, CEO of Redbox. “We look forward to growing the number of films offered through our AVOD streaming service from both studios in the coming months.”
Last month, Redbox entered into an agreement with Lionsgate, in which Redbox added the so-called "mini-major" studio's select archival titles to its AVOD library, while Lionsgate theatrically distributes Redbox original movies.
Prior to that deal, the Redbox AVOD library was largely comprised of independent and foreign-produced acquisitions.
Redbox operates a transactional VOD business, along with separate free-to-watch AVOD and FAST components, which all reside within the same Redbox app consumers use to manage their physical Redbox kiosk interactions. Redbox is betting that its marketing list of over 40 million kiosk users is full of streaming late-adopters who will be willing to go OTT for the right price (aka free).
As mentioned, Redbox is coming off a successful SPAC-based initial public offering, with the stock up nearly 32% since its Oct. 25 debut on the Nasdaq.
