Announced in February, Redbox and Verizon are finally serving up details on how its joint streaming venture intends to compete with Netflix and exactly how customers will be able to use it.
Associated Press reported Wednesday that Redbox Instant by Verizon has taken a big leap forward by announcing initial pricing and availability details for its streaming video service, which launches in early 2013.
The joint venture between Coinstar Inc. owned Redbox and Verizon Communications Inc. will enter an invitation-only beta period later this month, combining the best of digital streaming with DVD or Blu-ray discs available at thousands of kiosks nationwide.
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In a blow to Netflix, Redbox Instant will offer unlimited streaming for only $8 per month, which includes four one-night DVD rentals; Blu-ray rentals are available for only $1 more.
Content is king
Redbox and Verizon realize that to compete with streaming video titans like Netflix, they've got to have content, so the joint venture has teamed up with some Hollywood heavyweights.
EPIX will get streaming content from studio partners such as Paramount, Lionsgate and MGM for monthly subscribers, but Redbox Instant by Verizon will also offer electronic sell-through or rental options.
EST and VOD partners will include EPIX labels in addition to NBCUniversal, Relativity, Warner Bros. and Sony Pictures, although the companies aren't providing pricing details for those options just yet.
Redbox Instant by Verizon will launch early next year on leading platforms including iOS, Android, Google TV and connected Blu-ray players or HDTVs from Samsung and LG.
Via Associated Press