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| Verizon and Redbox to launch new Netflix rival in US |
| Tuesday, 07 February 2012 00:00 |
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A new streaming media service to rival Netflix is set to be launched in the US by video rental company Redbox and broadband provider Verizon.
Redbox's parent company Coinstar is forming a new joint venture with Verizon that will lead to the release of an online video offering in the second half of 2012, which will offer a subscription payment model and a wide variety of titles. It will take advantage of Verizon's cloud computing technologies and high-end IP network infrastructure to deliver reliable on-demand services, as well as leveraging its strong relationships with entertainment content providers. Further details on the new brand and product will be announced later this year, with the new service set to be available across multiple platforms and devices. Bob Mudge, president of Verizon consumer and mass business markets, said: "Together, we are erasing old technology boundaries, freeing people to spontaneously enjoy the entertainment they want, whenever they choose, using the devices and media they prefer, at home or away." This comes after industry insider Porter Bibb of Mediatech Capital told Bloomberg in December 2011 that Verizon is seriously considering launching a takeover of Netflix this Easter. Posted by Thomas Price  |