Verizon and Coinstar team up to take on Netflix

While Netflix has been slowly declining in popularity thanks to its questionable decisions last year, it looks like the company has got a new challenger on the block. As if Redbox wasn’t enough competition in the physical medium market, Netflix will now have to deal with a new video service from Verizon and Coinstar (the company behind Redbox). While the name of the service wasn’t mentioned yet, the service is touted to offer all the “convenience, simplicity and value of Redbox new released DVD and Blu-ray Disc rentals combined with a new content-rich video on-demand streaming and download service from Verizon.”

The joint venture will be introduced in the second half of this year, and promises subscriptions services and more in an “easy-to-use, flexible and affordable service”. Other than that, nothing else was mentioned, but with Verizon’s experience in digital content in FiOS and Coinbox’s in physical medium with Redbox, Netflix might have a serious competitor in store. More details should be revealed in the future, but until then – what do you think? Could Verizon and Coinbox come up with a service to overthrow Netflix?

[Press Release]