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Market Overview

RedBox Continues Growth Momtentum


Piper Jaffray recently completed its 20th bi-annual teen survey, a national study of 6,000 teenagers' buying patterns and preferences. It asked high school students
how they currently rent movies and how they expect to rent movies in two years.

40% indicated they currently use kiosks, which is an all-time high from the survey. Renting from retail stores is decreasing in popularity as 59% of teens use stores
today, down from 79% one year ago. With over half of teens still using retail stores, however, Piper believes the potential for further share gains is underestimated.

Redbox, which is owned by Coinstar (NASDAQ: CSTR) is well positioned for continued growth in movierentals. The company participates in one of the alternative rental models (i.e. non-retail rental) and arguably benefits most directly from the retail segment that will likely be down over the next two years.

CSTR closed Tuesday at $43.17

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