There are so many planets referred to as "Red," so we'd best narrow it down:

When this was released - 1952 - movies about space had some basic guarantees. Rockets. Rock-jawed spacemen. Planets that resembled desert areas within a few hours' drive from LA. Monsters. Above all, MONSTERS! Or, if the movie was set on Earth, we were guaranteed saucers, theramin music, creatures with one eye and 20 tentacles, and a beautiful dame snatched up and carried back to the ship for horrible experimentation.

This movie doesn't give you any of that. Well, no: one rock-jawed guy, Peter Graves, who grew up in the neighborhood where I live and probably saw movies at the theater that was converted to a video store that STILL didn't carry this film. But since I'm six blocks from the old theater, consider this as close as we'll get. Especially since the video store is closed, too. Anyway:

 

 

The scientists led by Graves have made photographic contact with Mars:

 


 

Later he makes radio contact with Martian civilization, which is astonishingly advanced, but unable to send pictures or voice. They communicate by means of lines on cathode ray tubes, which our heroes understand.

 

 

Specifically, they discuss agricultural yields. This is big news:

 

 

Unfortunately, this leads to the collapse of the commodity markets:

 

 

It gets worse from there. The very foundations of Capitalism are shaken by reports of Martian plenty, and the Commies rejoice. They shouldn't. Next up, it's their turn:

 

 

Yes, GOD, as in GOD. So that's where He's been keeping himself! The Martians, it seems, are Christians, and use the newly-established lines of communication to upbraid the entirety of Earth for doing such a poor job with the whole brotherly-love thing. This leads to the overthrow of Communism, which is witnessed by our hero on his flat-screen at home:

 

 

It may sound really, really clunky and horribly earnest and preachy - but it's not. Well, it is. But it's not bad. It's fascinating as a period piece; aside from the trumpets-blaring mainstream Christianity of the American side of the story, the Commie scenes are delightfully ripe, with evil Commissars looking out the window with pride as soldiers mow down masses of Orthodox protestors. But brother, they get theirs, as the patriarchs lead the faithful to imply some actions that result in matte shots set on fire. You might think that would be it, but it's not; there's a final scene that provides a twist and an untwist, and the movie ends with pure 50s cheese:

 

 

Complete with cross. Chances this could be remade today by a mainstream studio and marketed as a mainstream movie: I'm thinking of a number between one and negative one.