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Paramount, redbox reach trial rental agreement
August 25, 2009
Paramount Home Entertainment and redbox have entered into a trial license program that will provide redbox access to Paramount Pictures new releases through 2009, the companies have announced in a news release. Throughout the trial, Paramount will have access to detailed rental data to evaluate the impact and viability of the program.
In light of redbox's recent squabbles with Hollywood movie studios, company president Mitch Lowe says the Paramount deal is a promising sign:
This agreement is a positive step with Paramount. The agreement ensures that our customers will have increased access to some of the biggest titles of the year.
At the end of the four-month trial period, Paramount will have the option to extend the program to 2014, with an opt-out clause after two years. Also, redbox has agreed to destroy Paramount titles once they are removed from its kiosks.
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