Red Box To Hike Rates

The company that brought movie vending machines to grocery stores and fast food chains, is raising its rates.

Redbox announced in a press release the company will be raising daily movie rental prices 20-percent to $1.20. Redbox said the hike is due to rising operating expenses, including increases in debit card fees. The price change will not affect daily rental charges for Blu-ray discs and video games. Customers will also be charged $1.20 for additional rental days.

The new rental price takes effect Oct. 31. This is the first Redbox increase in eight years.