Redbox and Verizon's on-demand video streaming service is set to launch in the second half of 2012

Back in December, we first got wind about a possible partnership between Verizon and Redbox, where it was alleged that the two would combine their efforts in bringing to market a new kind of video streaming service that’s meant to rival Netflix. Previously, it was believed that the target launch date for the project would be May 28th, but it seems that we won’t be seeing it until sometime in the second half of 2012.

Settings their eyes on launching the on-demand video streaming service in the second half of the year, the undisclosed name of the new service is being pegged to use Big Red’s on-demand and download system. However, it’s uncertain right now as to exactly what kind of content will be offered.

Well, it seems as though Redbox and Verizon are looking to make it as some sort of “expanded content offerings,” which would essentially consist of back catalog shows and movies – or as some of us would say, the boring titles that no one would want to see. In contrast, however, newer media would basically stay intact with Rebox’s existing DVD and Blu-ray rentals via its kiosks. Considering the potential surrounding this new service, is wouldn’t surprise us to find Verizon devices being able to stream content directly, but it’s still up in the air as to whether mobile apps would be release for devices on other networks.

Needless to say, Verizon would be benefiting a lot from this if the service is going to be exclusive to them, but in contrast, Redbox’s exposure would be limited. Currently, Verizon is expected to own a 65% stake in the new venture, while Redbox would assume the remaining 35%. As we move closer towards the second half of the year, we can normally expect to hear more information regarding pricing and branding for the service.

via MarketWatch & SlashGear