This week we learned that Netflix will be shutting down its DVD business. Now Redbox’s parent company Chicken Soup For The Entertainment, has announced that it would like to buy Netflix DVD rental business before it shuts down in September of this year.
“I’d like to buy it,” said Bill Rouhana, the CEO of Chicken Soup, told Penske Showbiz Trades, according to NextTV. “I wish Netflix would sell me that business instead of shutting it down. … This could be a great boon to us because now there are a whole bunch of people who are going to look for a new place to get their DVDs, and we’re close to 90% of them based on where our kiosks are located.”
Sadly for Mr. Rouhana, Netflix has apparently repeatedly turned down efforts by Red Box to buy out its DVD.com business. Now though that Netflix has decided to shut down its DVD and Blu-ray business, there may be one more chance for Netflix to sell DVD.com to Redbox.
Netflix’s DVD business generated just $145.7 million in revenue in the 1st quarter of 2023, down 20% from the same time in 2022. DVDs now make up just 0.5% of Netflix’s revenue.
DVD.com plans start at $9.99 a month for one disc at a time, $14.99 for two discs at a time, or $19.99 for three discs at a time. You can get both DVDs and Blu-rays for that price.
DVD.com customers’ final bill will be in August, and they will continue to get access to the service until September 29th, 2023. Netflix says they will accept discs until October 27th, 2023
Chicken Soup For The Soul Entertainment purchased Rebox last year for $375 million. The deal was a combination of stock and bet assumption that gave Chick Soup Redbox far below what it would have sold for a few years before.
Would you like Netflix’s DVD business to continue to operate? Do you use DVD.com? Leave us a comment and let us know.