(Ping! Zine Web Tech Magazine) – A forthcoming video streaming service initially discussed by Redbox provider Coinster and Verizon Wireless in February is starting to take shape.
Today the companies unveiled the official product name for the offering: Redbox Instant.
The platform is a combination of the traditional Redbox kiosks, but also provides something more suitable for consumers in an age driven by tablets and on-demand features: instant streaming.
A product portfolio is set to be detailed in the near future. The companies also recently unveiled the platform’s logo along with its leadership team.
“This venture between Verizon and Redbox will create the kind of national multi-platform product that customers are demanding from video entertainment service providers,” the companies stated in a press release earlier this year.
“It will leverage Verizon’s industry-wide relationships with entertainment content providers, its advanced cloud computing technologies and state-of-the-art IP network infrastructure to distribute video on-demand content to its customers,” the press release continued.
According to a report from fastcompany.com, today the service was set to begin “internal alpha testing.” Meanwhile, the companies involved revealed that Verizon FiOS veteran Shawn Strickland had assumed the position of CEO for the new video venture.
Companies including Netflix and Hulu currently dominate on-demand video streaming services. It’ll be interesting to see if the new Verizon-backed initiative gives current market giants a run for their money.