Redbox may be predicting the future of physical media is uncertain or even doomed. The company, which became famous for $1 DVD rentals at kiosks across the country, is now engaged in a venture partnership with Verizon to creating a streaming product. According to an article by Multichannel News, the product is now in testing phases and accessible by invitation only.
The streaming service is currently called “Redbox Instant by Verizon,” which is certainly a mouthful if you’re trying to build brand awareness. While we’re sure Verizon wants to have their name in the mix (especially since they own 65% of the venture), this isn’t going to fly if they’re looking to compete with Netflix. Suggestion: Just call it Redbox. If the product succeeds it will end up being called that anyway.
The JV’s website can be found at redboxinstant.com.