Redbox Looks to Challenge Netflix by Instituting Streaming Service
It’s no secret that Netflix’s stock has been dropping fast and that DVDs are qwickly becoming relics of the past (SEE WHAT I DID THERE?!?). But while companies like Redbox and Blockbuster are besting Netflix in the realms of convenience (no shipping) and new releases (no 30 day waiting period), one area that Netflix has reigned supreme, and indeed, the area in which they’re placing the company’s future, is streaming. However, recent developments are…well….developing that is casting a shadow of a doubt over even the future of streaming for Netflix:
Perhaps the biggest story is that Redbox and Verizon have announced that they are teaming up on a new video streaming service that looks to take on subscription titan Netflix. Set to launch sometime in the second half of 2012, the two companies say their new venture will provide ‘subscription services and more in an easy-to-use, flexible and affordable service that will allow all consumers across the U.S. to enjoy the new and popular entertainment they want, whenever they choose, using the media and devices they prefer.’
If Redbox can come up with an efficient streaming service, will it be the nail in Netflix’s coffin? If Netflix fades into obscurity, will Redbox pick up the slack in regards to the plethora of classic, foreign and documentary titles that Netflix currently boasts?
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