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Redbox to Offer Instant Movie Streaming Service

Netflix will face new competition by the end of the year when it comes to instant video streaming service.

Move over Netflix because movie kiosk operator Redbox is set to offer instant video streaming service later this month. And movie watchers will be pleased to know, it will cost as little as $6 a month to enjoy streaming entertainment from the comfort of their own living room. 

The online movie subscription service will be offered through a partnernship between Redbox and Verizon Communications Inc (VZ) aka "Redbox Instant by Verizon" -- which will start selling the $6 streaming-only subscription through a limited beta test by the end of the year, according to Reuters. Customers will be able to stream the films to certain Internet-connected TVs, phones and tablets.

Subscribers will also have the option of an $8-a-month plan with movie streaming plus four one-night DVD rentals from Redbox kiosks -- which can be found at drugstores, discount department stores and grocery stores throughout the Southland. Upgrade to $9 a month, and customers can rent high-definition Blu-ray discs. 

Redbox Instant customers will have access to movies from Viacom Inc's Paramount Pictures, Lions Gate Entertainment and MGM through a deal with the Epix premium cable channel, as well as films from Time Warner Inc's Warner Bros, according to Reuters.

Netflix, which once established a strong subscription base with its ever popular $9.99 monthly unlimited DVD-rental and streaming combination plan, changed its service plans and increased prices in mid 2011, causing many unhappy subscribers to bail. Netflix currently offers unlimited movies & TV episodes instantly over the Internet for $7.99 a month. Streaming subcribers can also add the unlimited DVD subscription (1 DVD out-at-a-time plan) for $7.99 more a month.

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