Verizon Teams With Redbox for a Netflix-Style Video Service

Here’s the Netflix-style video service that Verizon wouldn’t talk about a couple months ago: A joint venture with Redbox that promises “instantly available online and mobile content with immediate access to physical media through rental kiosks.”

The two companies put out a press release without a whole lot of detail (below) but are holding a press conference shortly where we may be able to tease some more out of them. (Update: Well, that was a waste of 10 minutes. Verizon is also promising to make executives available for interviews this morning, but my expectations are now very, very, very low. Subterranean.)

Right now, all they’re really saying is that they’ll have video content, delivered over the Web and via mobile devices, and that consumers will be able to stream some of it and download some of it.

Roping Redbox into the JV — Verizon will own 65 percent of the company, and the movie rental service will have the remainder — makes sense, because it will give the unnamed service a digital-plus-physical option. Just like Netflix and Dish Network’s Blockbuster already have.

But while the big media companies are very happy to license some of their content to Verizon or any other player that wants to pay for digital rights, they are much less comfortable with Coinstar’s Redbox, and have tangled with that service in court.

Right now, for instance, Redbox has announced that it won’t work with Warner Bros.’ new 56-day “window” for new movies on DVD, and will buy discs from third-party sources instead of getting them directly from the studio. So it will be interesting to see how Warner Bros. and parent company Time Warner treat the new venture, and whether that dynamic plays out with other content guys.