Those feeling remorse about terminating their Netflix account and desiring a comparable streaming service and not finding any, now have a glimmer of hope . It seems our friends at Redbox are teaming up with Verizon and will be unveiling Streaming Video. Sure, theres Amazon and Hulu, and although Netflix's offerings are not as grandiose as desired, Amazon and Hulu are way behind in the content category, which means Redbox is in a great position to overthrow Netflix as the streaming king.
Redbox, at present, dominates the DVD renting market - and why not? Their DVD's for a buck on almost every corner in the city makes for a compelling offering. Netflix though makes more money, to the tune of $3.2 billion last year. They spend a $1 billion on licensing media fees. Which means, to compete, Redbox and Verizon will need to sign a lot of contracts and pay up. And if "VeriBox" can offer a good library of content and also make it accesible via everything from your smartphone to your smart TV like Netflix does, then it's a winning combination.
It's a logical progression for Redbox to move from DVD-only to Streaming. Teaming up with a big phone company like Verizon could be just the ticket Redbox needed. It's to early to tell what the pricing structure will be for this subscription service. But expect this to materialize in the 2nd half of 2012.