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Redbox To Launch Streaming Netflix Competitor

As per one of the leading unlocked cell phone blog site, Redbox clarified rumors that they were planning to launch a streaming Netflix competitor later this year. CEO of Coinstar, the company that owns Redbox, confirmed that the service was in the works last year during an earnings call, but did not elaborate on how it would operate or how soon users could expect to use the service. He also did not have any information regarding the pricing model that would be employed with the new service.

Lowe confirmed today that the new service will be a subscription service in the same way that Netflix is run. No further information regarding exact pricing was given. At this point in time, Redbox runs unmanned DVD rental machines that allow users to rent a movie for one dollar per night. These kiosks are usually stocked with the latest new releases in an effort to compete with video rental stores.

Redbox did not reveal whether or not they had a partner for their upcoming streaming service, but it is assumed that they could not operate a subscription based streaming service without first partnering with a company that has the hardware to back up the operation.

Redbox is looking to directly compete with Netflix, after easily taking hold of the movie rental market. With Blockbuster, Hollywood Video, and other movie rental companies struggling to stay afloat with high rent prices, Redbox was ahead of the game when they launched the unmanned do it yourself kiosks that have become highly popular in recent years. It will be interesting to see how well RedBox will be able to compete with Netflix, which has already established themselves as the leader in the streaming market after cutting deals with all of the major console gaming systems, allowing gamers to link right up with their library of streaming movies and play them directly through the console platform.

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