Indie DVD Kiosk Vendor Signs Grocery Chain4 May, 2010 By: Erik Gruenwedel
InstaFlix, a Jacksonville, Fla.-based independent DVD rental kiosk vendor, May 4 said it has signed a distribution deal with a grocery chain calling for the installation of 300 kiosks.
The three-year agreement, which apparently displaces another DVD kiosk vendor, is expected to generate $7 million annually in revenue, according to Global Axcess Corp., the ATM distributor that owns InstaFlix.
Global Axcess Corp. didn’t disclose the grocery chain, displaced DVD kiosk vendor or its source for DVD product.
CEO George McQuain said the ATM/self-serve industry is well-suited for DVD rentals.
“We believe our clients will welcome our … revenue share opportunity on this side of their business as well,” McQuain said, in a statement.
Founded in 2001, Global Axcess reported net income of $2.8 million on revenue of $21.5 million for the fiscal year ended Dec. 31, 2009.
A company representative was not immediately available for comment.