Hoyts has sold its DVD vending machine business to rival Evolve Entertainment’s Video Ezy Express, resulting in many of the green kiosks being re-branded or removed in the coming weeks.
The cinema chain re-branded the machines ‘Hoyts Kiosk’ following its acquisition from Oovie back in 2009.
There are reportedly around 600 Hoyts Kiosks nationally.
Hoyts has confirmed Evolve’s acquisition of its kiosk business, informing media the agreement was for an ‘undisclosed sum’.
However, a spokesperson has informed the smh that the acquisition “does not include and does not affect the Hoyts cinema business”.
Some customers have reportedly received emails stating their Hoyts Kiosk would be removed in the coming weeks. Others have received emails offering a $10 voucher to use at the 1000 Video Ezy Express kiosks nationally.
The acquisition is interesting in the current ‘Netflix and Chill’ era, where online streaming is continuing to rise in membership and market penetration.
Recent reports reveal that Australia’s video and DVD hire industry has dramatically fallen from $1.5 billion in fiscal 2004, to just about a third. An annualised decline of 21% is also forecast for 2018-2019.
