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Hoyts Takes On DVD World
Movie powerhouse Hoyts have this week announced the purchase of DVD hire franchise Instant DVD
One of Australia's leading cinema chains/film distributors has this week also become owner of leading rental machine DVD operator Instant DVD. This new partnership will see an increase in vending machines being available for users, who can hire from one and return to another machine.
With a prolific extra 1000 machines being rolled out across Australia in the next two years, consumers will be able to easily access the films they want to hire from convenient locations nationally such as supermarkets. Instant DVD will also be re-branded as ‘oovie' when relaunched in October.
The simple process of hiring DVDs through ‘oovie' requires swiping your credit card and the film requested drops out of the vending machine. For each day the film is hired it costs $2.99. This new partnership will move Hoyts into the home entertainment sector, as Hoyts Executive Chairman David Kirk stated. "Our acquisition of Instant DVD is an exciting development and an important step for Hoyts, moving us into the $400 million DVD rental home entertainment market. Instant DVD was an obvious choice as they are the current leaders in the DVD machine rental market and well positioned for rapid growth."
Founded in 2005, Instant DVD had 80 machines operating throughout Sydney and Melbourne and 60,000 customers prior to the buyout.
Watch out for an ‘oovie' machine near you.