The Verizon-assisted company announced the news on its website, and instructed paying customers on how to get refunds. It might come as a surprise to some people that Redbox even had a streaming service, which is likely part of the reason why they’re shutting down.
The streaming feature debuted in early 2013, and attempted to one-up Netflix by offering instant streaming and four DVDs a month for less than Netflix’s monthly fee. Redbox’s CEO was pretty public about their disappointing numbers. There was a also a credit card fraud issue, and earlier this year, Redbox shut down new signups as a security measure.
You’ll still be able to rent movies at Redbox kiosks, but Netflix is just… so… close.
Photo via Ian Lamont/Flickr (CC BY 2.0) | Remix by Fernando Alfonso III