Picture: Colleen Michaels (Shutterstock)Streaming providers chalk up one other sufferer as Redbox mother or father firm Hen Soup for the Soul Leisure recordsdata for chapter. Florida Household Takes NASA to Courtroom Over House Broken by House TrashThe mother or father firm filed for Chapter 11 chapter safety on Saturday, in response to a report from Deadline. Hen Soup for the Soul Leisure, a derivative firm named after the favored self-help books, racked up nearly $1 billion of debt and had points paying staff and protecting their advantages. The corporate went public in 2017 and commenced buying a number of the lesser-known digital providers equivalent to Popcornflix, Crackle, after which Redbox in 2022 for $375 million. It’s unclear as of now if these video rental merchandising machines might lastly disappear because of the chapter. Hen Soup for the Soul Leisure has quite a lot of lenders who must be paid, and it could possibly promote Redbox to an purchaser though it’s unlikely to get again the quantity it paid simply two years in the past. In its heyday within the early 2010s, Redbox had greater than 43,000 areas. The corporate’s website says it nonetheless has greater than 34,000 kiosks doling out DVDs and Blu-Rays, however some machines have been reported as being unplugged with bank card slots having tape over them. Redbox’s demise is one other indicator that bodily media is turning into a factor of the previous. Finest Purchase and Goal introduced prior to now 12 months that bodily shops will now not promote DVDs and Blu-Ray discs. Netflix began its enterprise by sending out DVDs by way of mail and discontinued its bodily media service final 12 months. In its 2023 report, Media business evaluation group Digital Leisure Group stated bodily media made up 3.6% of the U.S. residence video income for the 12 months, a drop of 25% from the 12 months earlier than.