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Verizon Communications (NYSE:VZ): Current price $43.37
The public should see the intro of the streaming movie service Redbox Instant by Verizon prior to the end of the first quarter, according to the venture’s Chief Executive Shawn Strickland Wednesday at a CES 2013 breakfast. The service will compete with Netflix, Hulu, Amazon, and other like players, but Redbox has the advantage of 42,600 physical kiosks nationwide that offer new releases. Redbox Instant subscribers will receive monthly DVD rental credits and unlimited streaming for $8 per month. Strickland said that, “We’re doing the invitation-based beta now… but we will launch sometime later this quarter. Movies are the core of the Redbox brand, and movies are underserved in this space.”
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