Verizon, Redbox takes aim at Netflix

DAILY DOT COM - Verizon Wireless is teaming up with Redbox is teaming up with Redbox to create a new video streaming service. 

The new venture would offer customers a choice between physical discs and streaming, much like Netflix’s streaming video service.  But unlike Netflix, customers would pick up and return their discs at Redbox kiosks rather than receive and return them by mail.

The two companies plan to launch the service in the second half of the year and will to non-Verizon customers as well.  The service will be available on multiple platforms like smart-phones, tablets and TVs and will add another dimension to Verizon's quest to become a force in home entertainment.  The company is looking to compete, to some extent, with the cable-TV services it already sells.

Redbox, whose DVD rental kiosks are located in more than 29,000 stores, has been looking to expand into online streaming for more than a year. Its business so far has revolved around renting DVDs for as little as $1.20 per day.

To get people to try the service, Verizon and Redbox look set to undercut Netflix's cheapest DVD and streaming plan of $16 per month, which is 60 percent higher than its $10 monthly rate before prices went up in September.

On the heels of the announcement from Verizon and Redbox, Netfllix launches a new series called “Lilyhammer”.  The company describes the series as a gripping fish-out-of-water story set in Norway.  It stars “The Sopranos” mainstay and E Street Band guitarist Steven Van Zandt.  “Lillyhammer” follows New York mobster Frank “The Fixer” as he enters the federal witness protection program after ratting out his boss.  The new series is available to watch on Netflix as on Monday.

To view the trailer click here .