The Coinstar subsidiary Redbox discloses plans to team up with Verizon to compete with Netflix, Amazon and Hulu, the video streaming giants and this new service is expected to be launched in the second half of 2012.
Few of the many details of the venture were disclosed, except to recapitulate the convenience of usefulness physical locations with video streaming service. Pricing is also not revealed. And Its is still not clear that membership subscription plan will be inclusive or separate. While Netflix offers separate online streaming mail-in services.
Bob Mudge, president of Verizon consumer and mass business markets said “The joint venture will combine the accessibility and value of Redbox with Verizon’s vision for a border-less lifestyle – where consumers easily accomplish what they want or need to do, on their terms, through the power of the network”.
Netflix! After a disturbed summer for Netflix when it raised its membership plan prices, its business was almost got divided into two, and the stock price fell off a peak and most of the users cancelled their Netflix subscription and moved towards its competitors.
The big question is the quality of the content not in the service. Netflix has the largest library of titles which is double that of the main competitors of Blockbuster, Hulu Plus or Amazon Prime.
If the Redbox/Verizon service will offer secured and quality content,then it could definitely prove to be a strong competitor for Netflix.