Redbox, known for its 41,000 plus disc-rental kiosks, has formed a new label that will acquire and produce content.
The initiative is part of the privately held company’s efforts to reinvent itself given long-term declines in physical media revenue. Two years ago, it rolled out streaming service Redbox On Demand and its loyalty program, Redbox Perks, has some 34 million members and offers a digital marketing resource to partners.
“The Redbox brand is built on delivering the best selection of movies from the biggest blockbuster releases to films in genres and with actors that appeal to our loyal customers,” CEO Galen Smith said. “The formation of Redbox Entertainment leverages our deep insights to bring projects that we know appeal to our audience to deliver additional value and entertainment.”
Danon will be a senior advisor, heading content acquisition for Redbox Entertainment and reporting to Smith.
Smith called Danon “a terrific fit” for the new label. “He’s a talented creative with an impressive track record as a champion of films that catch fire with audiences; and a skilled executive adept at maximizing distribution opportunities and cultivating strategic partnerships.”
Redbox Entertainment is funding, developing and producing projects across genres, the company said, with a focus on action, comedy, and suspense/thrillers. Projects have been put in the pipeline both directly and via distribution partners and channels.
Titles acquired by Redbox Entertainment will be available physically at Redbox kiosks and digitally via Redbox On Demand, as well as in downstream windows beyond their Redbox release.