Redbox is a DVD vending machine that rents movies for $1/day plus tax.  It rented it’s 1 billionth movie in September and earnings for the third quarter came in higher than expected.  Owned by Coinstar, Redbox grew 54.2% last year to nearly $306 million.

It’s competitions, Netflix, is up 214% so far in 2010 and has added 1.9 million subscribers during the third quarter.

The convenience of Redbox is great since most locations are at your grocery store.  You can pick up your popcorn, soda or other movie munchies, grab your movie and go.  For those nights you can’t wait for your Netflix to come in mail and streaming isn’t available, there is probably a Redbox near you.