In Ben Patterson’s Yahoo New’s article “Redbox May Take Aim at Netflix with Subscription Video Service” we are informed that Redbox is now in the works for having an online streaming library very similar to that of Netflix. As of now, Redbox is a dollar a day video rental vending machine that is owned by the company, Coinstar. While the movie rental options in it’s vending machine form is of little variety, upgrading to streaming video would allow Redbox frequenters a new library featuring hundreds of choices.
If Redbox does, in fact, follow through with their streaming video library they would be going up against the popular Netflix and Sonic Solutions (who is reportedly also in the works with the streaming video business). Who will prevail in sales in the end is still in the air. While right now, Redbox only charges one dollar a night for it’s video rentals this price is likely to change as they add streaming video to it’s features.
Redbox’s current competition, Netflix, has recently launched an 8-a-month streaming-only plan in the U.S. and Canada. We’ll have to wait and see how Redbox executives decide to price their streaming business, if and when, their plans for a streaming library follows through.
What’s really interesting is seeing how in just a matter of 10 years or less we have gone from having to go to a video rental store and renting our movies face-to-face, to now not even having to go to a video rental vending machine but instead simply pressing a button on your remote control or clicking your mouse and having your movie of choice stream directly to your screen. Developments in technology seems to be slowing chipping away at the need for an intermediary for business. Long gone are the days, where we needed to go to the store to buy things we need, for now we have online shopping. And it looks like it’s going to be a farewell to a lot of our video rental stores seeing that now we can do that online as well too.
Article: http://news.yahoo.com/s/yblog_technews/20110217/tc_yblog_technews/redbox-may-take-aim-at-netflix-with-subscription-video-service;_ylt=An0HE.q0atRdgQ1U8dsnIwsjtBAF;_ylu=X3oDMTRmb2hkYzVnBGFzc2V0A3libG9nX3RlY2huZXdzLzIwMTEwMjE3L3JlZGJveC1tYXktdGFrZS1haW0tYXQtbmV0ZmxpeC13aXRoLXN1YnNjcmlwdGlvbi12aWRlby1zZXJ2aWNlBHBvcwMzBHNlYwN5bl9hcnRpY2xlX3N1bW1hcnlfbGlzdARzbGsDcmVkYm94bWF5dGFr
Article: http://news.yahoo.com/s/yblog_technews/20110217/tc_yblog_technews/redbox-may-take-aim-at-netflix-with-subscription-video-service;_ylt=An0HE.q0atRdgQ1U8dsnIwsjtBAF;_ylu=X3oDMTRmb2hkYzVnBGFzc2V0A3libG9nX3RlY2huZXdzLzIwMTEwMjE3L3JlZGJveC1tYXktdGFrZS1haW0tYXQtbmV0ZmxpeC13aXRoLXN1YnNjcmlwdGlvbi12aWRlby1zZXJ2aWNlBHBvcwMzBHNlYwN5bl9hcnRpY2xlX3N1bW1hcnlfbGlzdARzbGsDcmVkYm94bWF5dGFr
I agree with you about how crazy it is that we have made so many technological advancements in the last decade. I still remember being younger and being so excited to go to Blockbuster to pick out a VHS to use in our VCR. Now most kids don't even know what a VCR is, and I don't think I've seen a VHS in years. I know all of the Blockbusters in our area have closed down to because they weren't making enough money. It seems we live in a time where convenience is key, and the marketers know this. It will be interesting to see how much things change in the next decade, who knows what company will be on top, or what they will be marketing to us by then.
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