Blockbuster Express Testing $2.99/Night Price for New Releases

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In an effort to compete with Redbox and Netflix, Blockbuster Express will soon offer rentals of new releases for $2.99 a night.

Most film studios, fearing rentals will hurt DVD sales, have deals in place with the movie rental kiosks that require them to wait 28 days after a movie is released on DVD before carrying it. Blockbuster Express will now carry Twentieth Century Fox Film and Universal Studios releases the same day they go on sale.

Inception will be the first new movie available for $2.99 a night, and the program will debut in the test markets of Atlanta, Miami and San Francisco.

Blockbuster Express currently offers older releases for $1 a night.