Verizon and Coinstar to launch Redbox Instant this month

US-REDBOXINSTANT-LAUNCH:Verizon and Coinstar to launch Redbox Instant this month

(Reuters) - Verizon Communications Inc <VZ.N> and Coinstar Inc <CSTR.O> said they will launch their video rental service later this month.

The joint venture, which will combine the Redbox DVD rental kiosk business with an Internet video offering from Verizon, would sell subscriptions starting at $8 per month for unlimited streaming combined with four one-night credits for DVDs.

"Starting later this month, Redbox Instant by Verizon will open to public beta and consumers will be invited to explore the service and enjoy their first subscription month free," the companies said in a statement.

The companies had formed the joint venture in February to sell video services aimed at competing against video rental giant Netflix Inc <NFLX.O>.

(Reporting by Himank Sharma in Bangalore)

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