Hoyts Australia has officially moved into the home entertainment market, after acquiring 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 a more convenient and cost effective way for consumers to enjoy movies at home.
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.
Commenting on the acquisition, executive chairman of the Hoyts Group, David Kirk, said: “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”.