Redbox Instant, a video streaming service owned by Verizon Communications Inc. and Outerwall Inc’s Redbox is all set to be shut down permanently this week. According to the reports; the operators have apparently decided to shut down the video streaming services as the service did not turn out as they had hoped for. Rather in one of the statements, it has been claimed that Redbox Instant has been a complete failure.
Redbox Instant will initially stop all its processes from 7th October onwards until the service reaches complete closure. The complete closure is a step by step process and will take some time as both the operators would not prefer a high ‘shut down cost’. The services provided by Redbox Instant included Redbox DVD Rental Kiosk and online streaming of videos provided and managed by Verizon.
Redbox Instant was launched back in the year 2013 with the aim to compete with the Netflix Inc. but sadly Redbox Instant never really caught the attention of the users. According to the joint statement released by the owners, the decision to shut down Redbox Instant has been taken after careful consideration by the partners in the joint venture.
The current subscribers of Redbox Instant will duly receive a message stating the termination of the service. They will also receive another message stating the refund they will receive and the details. Interestingly, this was the very first time Verizon stepped in the field online streaming against organizations like Amazon, Netflix, etc.. It will be interesting to look at the next step taken by Verizon that whether the wireless network provider decides to stay away from the field or takes a different step altogether.
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