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Redbox streaming video service enters beta this month and undercuts Netflix

Movie rental kiosk service Redbox and Verizon Wireless are set to launch a new streaming video service to rival Netflix this month. The streaming video service will be called “Redbox Instant by Verizon” and will offer monthly subscriptions for six dollars per month. That streaming only price will undercut the price of Netflix by two dollars.

The Redbox streaming service will also have an eight-dollar monthly plan that includes unlimited streaming and four single night DVD rentals per month from Redbox kiosks. The service will go on sale in a limited beta later in the month.

The Redbox physical DVD and streaming plan for eight dollars per month is significantly cheaper than the Netflix plan that allows consumers to rent DVDs and costs $16 per month. Another significant benefit the Redbox service is that users can rent the DVDs immediately at any Redbox kiosk.

Redbox Instant subscribers will be able watch streaming movies from Paramount Pictures, Lions Gate Entertainment, Warner Bros. and MGM. Streaming will be available via smart TVs, smartphones, and tablets.

"They don't need everything Netflix has," said B. Riley & Co analyst Eric Wold. "I think it's going to be a big draw for consumers."

Redbox recently started selling concert tickets at some of its kiosks and is making plans to significantly expand its footprint.

Source: Reuters





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