Redbox / Verizon JV Deal

If you can’t beat ’em, join em.

When it comes to the future of digital entertainment, Netflix is the one to beat.

Verizon wants in on streaming media and rather than attempting to build their own (FiOs movies are just not cutting it) they’ve partnered with Redbox.

Per the press release:

Verizon and Coinstar, Inc. (parent of Redbox) today announced the formation of a joint venture that will create a new choice for quality- and value-conscious consumers seeking a simple and affordable way to access the video entertainment they crave.  The venture’s services will offer all of the convenience, simplicity and value of Redbox® new release DVD and Blu-ray Disc® rentals combined with a new content-rich video on-demand streaming and download service from Verizon.

It will offer 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.

“When you consider the core elements the parties bring to this venture – our powerful brands; our national rental kiosk footprint; our anytime, anywhere network presence; and our mutual commitment to customer-focused innovation – it’s clear that Verizon and Redbox are a powerful entertainment team,” said Bob Mudge, president of Verizon consumer and mass business markets.