‘Redbox Instant’ streaming video service on the way

It’s official: Verizon and Redbox parent company Coinstar will enter the streaming media world and battle Netflix, Amazon and the rest of the digital video market for customers.

Bloomberg reports that Redbox Instant by Verizon, a joint venture initially announced earlier this year, will be available between late November and mid-December. The video service will work on mobile devices, game consoles and set-top boxes. Users will be able to subscribe for a monthly fee that will also include a limited number of DVDs from kiosks.

Apart from the subscription service, there will also be a separate online movie sale and rental feature.

About 500 Verizon employees are currently testing out the service, which will initially offer newer movies that are currently available for sale and rental, the report said. Pricing has yet to be announced.

Redbox currently has more than 2 billion discs at 38,500 kiosks around the country.

First DVDs, then coffee and now digital streaming. What’s next for Redbox?