While we still don’t know the cost, name or content offering of the recently announced Redbox/Verizon streaming venture, we now have a better idea of when it will be launching. Speaking at an investor conference, Verizon CFO Francis Shammo revealed that the service will debut this coming August.
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Verizon owns a 65 percent stake in the joint venture, which is expected to offer a subscription-based model that combines streaming with disc rentals.
As to why Verizon chose Redbox for its partner, Shammo says that it was at least in part due to Redbox’s large existing customer base. Said Shammo:
“They have something like 35,000 customers a day that visit their Redbox terminals in stores, so they have a very strong following . . . And now this is a way for us to really utilize our strength in the FiOS content that we have, bring something to the table in a bundle with Redbox and then give that as an over-the-top play to their consumer.
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No doubt more details on the new service will surface as we get closer to August. Is the late summer launch a reasonable time frame for both companies to get their proverbial ducks in a row?
[via The Hollywood Reporter and Home Media Magazine]
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