Retailers are eager to participate in the booming digital entertainment market
BELLEVUE, Wash. — June 2, 2009 — Coinstar E-Payment Services, a subsidiary of Coinstar, Inc. (NASDAQ: CSTR), today announced that it will launch a line of digital entertainment products in U.S. retail locations.
Coinstar has partnered with leading online game companies including Aeria Games, Rixty Inc., Spare Change and Wild Tangent, to offer more than 15 products that provide consumers flexible online spending options. The new prepaid offerings are expected to be available at more than 500 Cumberland Farms retail locations this summer, and Coinstar plans to roll out the program to additional retailers later this year.
“Coinstar is a leading prepaid provider, and we are always striving to offer our retail customers the latest and most market-relevant products available,” said Mike Skinner, president of E-Payment Services and Coin at Coinstar, Inc. “With our digital entertainment products and services, retailers have the opportunity to reach the younger demographic that hold the majority buying power in this high-growth online gaming market.”
The digital entertainment product suite will include prepaid cards for Facebook and MySpace applications, online gaming, popular massively multiplayer online game (MMOG) titles, virtual world items and universal online spending. The cards will be available as part of the Coinstar Pay As You Go product suite. Additionally, consumers will be able to obtain the Rixty product through the Coin to Card™ free coin counting program at select Coinstar® kiosks beginning in the third quarter.
Coinstar’s complete Pay As You Go solution features national and regional prepaid wireless programs, long distance cards, gift cards, digital entertainment and one of the industry’s largest portfolios of financial services including reloadable and one-time use Visa® and MasterCard® branded debit cards.
About Coinstar, Inc.
Coinstar, Inc. (NASDAQ:CSTR) is a multi-national company offering a range of 4th Wall® solutions for the retailers' front of store consisting of self-service coin counting, DVD rental, money transfer, electronic payment solutions, and entertainment services. The Company's products and services can be found at more than 90,000 points of presence including supermarkets, drug stores, mass merchants, financial institutions, convenience stores, restaurants and money transfer agent locations. For more information, visit www.coinstar.com.
# # #
Forward-Looking Statement
Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The words "believe," "estimate," "expect," "intend," "anticipate," "goals," variations of such words, and similar expressions identify forward-looking statements, but their absence does not mean that the statement is not forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from the results expressed or implied in such statements. Differences may result from actions taken by Coinstar, Inc., as well as from risks and uncertainties beyond Coinstar, Inc.'s control. Such risks and uncertainties include, but are not limited to, changes in the number of anticipated installations, the termination, non-renewal or renegotiation on
materially adverse terms of our contracts with our significant retailers, payment of increased service fees to retailers, the ability to attract new retailers, penetrate new markets and distribution channels, cross-sell our products and services and react to changing consumer demands, the ability to achieve the strategic and financial objectives for our entry into or expansion of new businesses, the ability to adequately protect our intellectual property, and the application of substantial federal, state, local and foreign laws and regulations
specific to our business. The foregoing list of risks and uncertainties is illustrative, but by no means exhaustive. For more information on factors that may affect future performance, please review "Risk Factors" described in Item 1A of Part I of our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission. These forward-looking statements reflect Coinstar, Inc.'s expectations as of the date of this release. Coinstar, Inc. undertakes no obligation to update the information provided herein.
