Hoyts acquires Instant DVD
Press release from Frank PR Australia
Hoyts, Australia’s leading movie exhibitor today announced that it has acquired leading DVD rental machine operator Instant DVD. The partnership will enable more than 1,000 DVD rental machines to be rolled out nationally over the next two years, providing customers with the most convenient and cost effective way to enjoy movies in the home.
Founded by Andrew Evetts and Ian O’Rourke in 2005, Instant DVD is the current market leader in DVD rental machine operations, with over 60,000 customers using over 80 machines throughout New South Wales and Victoria. Instant DVD’s successful business model is based on competitive rental prices coupled with convenience, as machines are placed in highly convenient locations such as supermarkets and customers can rent from any machine and return to another.
Instant DVD and Hoyts will relaunch the brand nation-wide in October under the new banner – oovie. The relaunch will see existing machines redesigned with a new visual identity, along with a PR campaign to introduce the oovie brand.
David Kirk, Executive Chairman of the Hoyts Group comments: “Our acquisition of Instant DVD is an exciting development and an important step for Hoyts, moving us into the $400m 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”.
Ian O’Rourke, co-founder of Instant DVD comments: “Instant DVD prides itself on challenging the DVD rental market by providing consumers with the best value and most convenient DVD rentals. Our deal with Hoyts coupled with our re-brand to oovie is a crucial turning point for our business to expand on a national level.”