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Look out Netflix, a new video service has swaggered into town. Rumored since December, Verizon’s partnership with Coinstar, the parent company of Redbox video rental kiosks, became official on Monday. As with Netflix, customers will be able to choose between physical discs and streaming. The physical discs, however, will need to be picked up and returned to a Redbox kiosk.
Verizon and DVD rental provider RedBox are working on a TV and movie streaming and download service they plan to unveil in May, according to a TechCrunch report. The subscription-based service is apparently known as "Project Zoetrope" internally. Payment will reportedly be credit-based, meaning subscribers will get a certain number of credits for a fee and can apply these credits to their rentals.
"I messed up. I owe everyone an explanation." Thus begins a blog post by Reed Hastings, CEO of Netflix, announcing a new change to the company — a change that is almost guaranteed to further irritate an already angry and frustrated customer base. The change, in a nutshell, is this: In addition to charging separate fees for its streaming and DVD-rental services, Netflix is formalizing the separation of the two businesses.
"I messed up. I owe everyone an explanation." Thus begins a blog post by Reed Hastings, CEO of Netflix, announcing a new change to the company — a change that is almost guaranteed to further irritate an already angry and frustrated customer base. The change, in a nutshell, is this: In addition to charging separate fees for its streaming and DVD-rental services, Netflix is formalizing the separation of the two businesses.
Netflix cut its domestic subscriber forecast on Thursday by one million customers in the wake of a major change in the company’s pricing structure that favors its streaming-only service. The company discontinued its $9.99 monthly streaming and DVD-rental plan and replaced it with two plans, $7.99 for streaming only and $7.99 for one DVD at a time.