We've known Verizon and Coinstar were teaming up to offer a streaming and physical media service similar to Netflix. Earlier this month, we even heard suggestions the service could launch by the end of this year. With just over two weeks of 2012 left, there's not much time for these two companies to get the service off the ground if they want to have it live before the end of the year.
Now, Verizon Communications and Coinstar have officially said they will launch a video streaming service later this month. The service will launch as a public beta. Subscriptions will start at $8 per month for unlimited streaming and four one-night rentals at Redbox DVD kiosks. A $9 monthly Redbox Instant plan will provide unlimited streaming as well as the ability to rent Blu-ray discs. Considering Netflix's streaming and DVD rental package currently runs $15.98 per month, the Redbox Instant options are definitely competitive in terms of price.
Coinstar and Verizon inked a joint venture in February. Content from Warner Brothers Home Entertainment, Paramount Pictures, Lionsgate, and MGM will be available to Redbox Instant subscribers.