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Best Buy promotes budget digital streaming
August 18, 2010
DVD rental kiosk operators face heightened competition as Best Buy offers 99-cent digital movie rentals through its CinemaNow digital service,according to Home Media magazine.
The nation's largest consumer electronics retailer announced the special offering in a Sunday newspaper circular outlining how to use CinemaNow which typically charges from $2.99 to $3.99 for DVD rentals. Minneapolis-based Best Buy earlier this year acquired the brand rights to CinemaNow from Sonic Solutions.
Ralph Schackart, analyst with William Blair & Co., said the aggressive posture taken by Best Buy signals a likely emerging trend among third-party digital content aggregators seeking to create consumer awareness of digital distribution of movie rentals.
"This is the most notable focus that Best Buy has made on CinemaNow to date," Schackart wrote in a note. "We expect greater CinemaNow focus and rollout to continue."
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