Redbox to Offer Netflix Streaming Rival

DVD-kiosk owner announces a deal with Verizon to stream videos.

By Sajid Farooq
|  Monday, Feb 6, 2012  |  Updated 9:36 AM PDT
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Redbox says it will sign an agreement with Verizon to launch a video-streaming service.

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Taking down Blockbuster wasn't good enough for Redbox so now the DVD-kiosk has its eyes set on Netflix.

Redbox-operator Coinstar announced Monday that it is going to get into the video-streaming business with Verizon.

The service will be available to anyone in the country connected to a broadband Internet provider. But while Redbox has the power of more than 34,000 kiosks across the country, it has yet to sign an agreement to be able to stream video content.

The challenge is still a new threat to the Los Gatos-based Netflix, who started off the new year with a bang after seeing its stock have its biggest one day rise in more than two years.

Netflix had a difficult year last year and some predicted its fall after it lost 800,000 customers over a pricing flap and saw its stock dip from above $300 a share to just over $100 a share.

The one thing Netflix has going for it is that the company has staged off threats before. It has fought off -- so far -- an invasion onto its territory from the likes of Blockbuster, Dish Network and even Amazon.
 

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