Five months ago kiosk video game and movie rental company Redbox announced a deal with Verizon to create a service to compete with Netflix. Today we learn a little bit more about the service via a freshly launched website. The name of the new service is "Redbox Instant by Verizon," and it will be headed by Shawn Strickland, who served as an executive for Verizon’s FiOS Pay TV service.
The service combines the Redbox DVD and Blu-ray kiosk rental program with streaming video services over Verizon’s network. For now the service is only available on an invitation-only basis and is in the alpha testing stage.
While the new website reveals the executive team in charge of the venture, further details on the stuff we care about - liking pricing models and the library of entertainment that will be available at launch - were not revealed.
Verizon and Redbox jointly announced the venture in February of this year. Verizon has a 65 percent stake in the new venture, while Coinstar (the parent company of Redbox) holds 35 percent.
We will have more on this new service as it becomes available.
Source: Paid Content