Redbox Instant from Verizon set to challenge Netflix and Amazon this holiday season
After months of speculation, Verizon (VZ) and Coinstar (CSTR) earlier this year announced a joint video streaming service to compete with Netflix (NFLX) and Amazon (AMZN) Instant Video. The service, called Redbox Instant by Verizon, is being tested in the homes of roughly 500 Verizon employees and is set to become available by the end of the year. Eric Bruno, Verizon’s vice president of strategy and planning for consumer and mass business markets, said that Redbox Instant will initially focus on newer movies, Bloomberg reported. The service will require a monthly subscription and — along with online streaming, rental and purchasing — will offer customers access to DVDs from Coinstar’s 40,000 Redbox kiosks. Bruno revealed Redbox Instant by Verizon will launch “between late November and mid-December.”
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