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Category: Entertainment

Verizon, Redbox Team Up to Offer Streaming Service

Written on February 07, 2012 by Chris Martin

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Verizon and Coinstar announce joint venture that will rival Netflix's streaming service.

Verizon and ’s parent company Coinstar Inc., announced on Monday a tie up that will rival streaming content service.

The joint venture which aims to combine Redbox’s physical media rental service with streaming and movie downloads is expected to launch in the second half of 2012. Verizon holds the controlling stake with its 65 percent ownership share while Coinstar owns the rest.

Netflix, a California-based website which offers online video streaming and DVD-by-mail service ended last year’s Q4 with 24.4 million US subscribers, a 25 percent increase from their 2010 earning.

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