Friday, February 10, 2012
Verizon and Redbox
Verizon and Redbox team up to battle Netflix
By David Goldman
CNNMoneyTech
February 6, 2012: 5:46 PM ET
Verizon Wireless and Redbox are teaming up to create a video streaming service. These two companies joining together should be big enough to rival Netflix. The new company did not release much information due to competition reason but they do claim that they will provide “new content” as opposed to the rather dated videos that are available on Netflix. Amazon and Hulu have also come out with instant video services trying to compete with Netflix but have not succeeded.
I think that the merge of Verizon and Redbox is a great idea. The idea of instant video streaming is on the rise and today’s technology makes it possible. People can watch movies instantly on their phone or portable device from just about anywhere. Netflix has skyrocketed in the past couple years and has put other movie services such as blockbuster out of business. I have had Netflix on my Xbox since it first came out and know first-hand that it is unbelievably convenient and enjoyable. Although, I completely agree with the Coinstar CFO on his statement about Netflix only having old content. I have made this complaint myself. The new Redbox would take it to a whole new level by offering up to date television episodes and movies, forcing Netlfix to up its game. This will also be great for consumers because Netflix will now have a real competitor in the instant video streaming business. I know that Netflix recently raised their monthly subscription price, with new competition, they will no longer be a monopoly. This will most likely force Netflix to lower their prices in order to remain at the top. I think that what makes Netflix so successful is that they are available on game consoles, such as PlayStation 3 and Xbox. This basically offers a library of videos that you can watch at any time at the click of a button. My roommates and I use this service every day but a new service that allows us to watch up to date episodes and movies would be even better. The only way that I would stay with Netflix is if they matched it.
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I found it to be very interesting and insightful. I didn’t know Verizon Wireless and Redbox are teaming up to create a video streaming service. Redbox is a great source of entertainment for such a reasonable cost. For them to team up with Verizon is a great accomplishment for them, as well as all the advertisement and eventual increase of sales for Redbox movies will soon get. In the society we live technology like Redbox will go a long way. When the two companies join, it may lead to prices going down for Netflix because of competition. My friends and I use Netflix all the time and it’s the best way to watch movies fast. Netflix to me is great because on the weekends there’s nothing ever going on and we all love to chill and watch a movie we haven’t seen yet or T.V show. I was happy to read your blog you did a Great Job!
ReplyDeleteAlex Di Nardo