Famous American Video Company Redbox’s CEO Galen Smith recently talks about the future of video entertainment as the company’s business evolves.
During some questions, answer segment with S&P Global Market Intelligence, he answered many questions about his company. During the session, these types of statements came out. Redbox expects cord-cutting will accelerate among its 40 million value-conscious consumers as the cost of pay-TV subscriptions rises.
Redbox Automated Retail LLC, which is in the process of going public via a reverse merger with special purpose acquisition company Seaport Global Acquisition Corporation is aiming to evolve its business beyond its legacy CVD rental kiosks to include more revenue from streaming partnerships, ad-supported content, and other business.
The company, which specializes in distributing low-budget films is attempting to the company’s 39 million value-conscious loyalty program customers. Many of them are technology, late adopters, to give digital media a try.
