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Dollar DVDs to Cripple SoCal Economy

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Someone is challenging the movie industry's way of doing things and it is going to cause economic ruin! The Los Angeles County Economic Development Corporation released a study today on low-cost DVD movie rentals, and they've concluded that Redbox, which rents DVDS from vending machines for a dollar, could cost the local economy $1 billion and 9,280 jobs. ABC7 says that according to the report, "Redbox's low-cost kiosks are challenging the traditional distribution and release model of the industry, which is built upon timed, sequential release into differentiated market segments through a variety of channels." [Image via Pulse2]
[ABC7]