So what's going on here? To date, the video streaming market has been a winner-take-all affair with Netflix doing most of the taking. The market, however, did not seem terribly worried about the fate of Netflix, which saw its shares go down by a few percentage points. In the wake of the announcement and stellar earnings numbers, Redbox shares soared by nearly 25% in a single day - the biggest jump in five years. Red-hot Redbox has blanketed America with popular and handy $1 video rental kiosks that are particularly amenable to impulse rentals. Coinstar ( CSTR) executives announced during the company's earnings call Thursday that the spare change kiosk company's Redbox subsidiary planned to introduce a streaming video service in the near future as a complement to its physical location business. The ubiquitous Redbox video kiosk is about to take the plunge into digital movie streaming and Wall Street is all cheers.
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