[UPDATE: We have received the following e-mail from Chris Goodrich of JSH&A Public Relations, on behalf of Redbox: "Following the blog post below about redbox on TVBizwire, I wanted to clarify that the company is currently testing Blu-ray rentals in select locations but has made no definitive decisions in terms of pricing. Redbox will be rolling out Blu-ray rentals nationwide later this year."

Home Media Magazine, who we cite as the source of our item said that it is "likely" the price point will be $1.50. We have changed our headline and body of our story to include the word "likely."]

Redbox, whose video dispensing machines already rent 40 million DVDs a month, will add Blu-Ray discs to its rental selections at a likely pirice point of $1.50 per night, Home Media Magazine reports.

According to the article, Redbox president Mitch Lowe said, "Lowe said 16.9% of Redbox customers own a Blu-ray player and that he believes Redbox’s 23% share of the rental market will help drive Blu-ray adoption. He added that consumer awareness of Redbox hit 72% in April, compared to 17% in February 2009."

Redbox, which gets some new releases 28 days after their street dates, charges $1 per night for renting a regular DVD.

With spending on DVDs in general down 9% last year, Lowe likes his price-point, the article notes.

The article added, "Lowe also said Redbox will soon test sellthrough of catalog titles for $5, $7 and $9. He said Redbox renters buy 6% more new DVDs than non Redbox renters and that heavy Redbox renters (those renting once or more a week) buy 42% more than non Redbox renters."