Web site TechCrunch appears to have filled in a key missing piece to the reports this week about Verizon’s plan to launch a digital service for movies and TV shows: The site says that much of the content would come from a partnership with Redbox. Beginning on May 28 the companies will offer consumers opportunities to buy credits that they could use to buy or rent videos online — or rent DVDs from Redbox’s popular $1.20 a night kiosks, the site says. It adds that the companies are “still in talks with content providers” and won’t seek to beat rivals in offering the newest releases. The video service would offer standard definition and HD streams and would work on the most popular digital platforms including Apple’s iOS, Google’s Android, Xbox, and Roku boxes. Investors are impressed by the information about the planning being done under the code name Project Zoetrope: Shares of Redbox’s parent, Coinstar, are up 7.9% on a lousy day in the market. The information jibes with Coinstar CEO Paul Davis’ statement to analysts in October that his company would unveil a digital streaming plan by year’s end, which he called “a top priority for the company.” This week Verizon CEO Lowell McAdam declined to discuss his company’s streaming plans.
By DAVID LIEBERMAN, Financial Editor | Thursday December 8, 2011 @ 3:52pm ESTTags: Coinstar, Lowell McAdam, Paul Davis, Redbox, Verizon
For all of Deadline's headlines, follow us @Deadline on Twitter.
This article was printed from http://www.deadline.com/2011/12/report-redbox-teaming-up-with-verizon-to-launch-video-service-in-2012/