Redbox goes after Netflix with plans for streaming service

As anticipated, Redbox, which has made its name renting $1 DVDs from some 30,000 kiosks in retail locations around the country, is planning to jump into the streaming movie market with a subscription service that will go head-to-head with segment leader Netflix (Nasdaq: NFLX).

The company earlier this week said it plans to allow users access to multiple movies on a variety of devices, as well as give them access to DVDs at its kiosks.

The company has been discussing a streaming service for about a year, and has said it planned to start a streaming service with a partner, widely believed to be Amazon (Nasdaq: AMZN). Amazon reportedly has been negotiating with studios for content and rights to stream it.

It faces an uphill battle against Netflix, which has more than 20 million subscribers, although reports indicate it could offer a less-expensive--in the $5 range--service.

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