DVD rental service Redbox will challenge Netflix, Amazon, and other streaming giants with a new digital service, according to a Variety report on Thursday.
Redbox, which is owned by Coinstar-parent Outerwall, is known for its DVD rental kiosks in grocery and drug stores in the U.S. The company says that it has rented 3 billion discs to date, that and nearly 68% of Americans live within a five-minute drive of a Redbox location.
This wouldn’t be the first time Redbox has tried to introduce its own streaming service. In 2013, it teamed up with Verizon to create Redbox Instant, which offered access to thousands of movie and TV titles for $6 a month. But 18 months later, Redbox shuttered the service.
According to the report, the second try at streaming is called Redbox Digital and will look similar to Apple’s iTunes (AAPL), Amazon (AMZN), and Google Play (GOOG). People will be able to rent or buy movies and TV shows from a single Internet portal.
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For Redbox, this could be a Hail Mary move as the company struggles to gain a foothold in the new digital world. Consumers are not flocking as much to DVD rentals when they can buy and rent movies directly from their cable provider or from Apple, Netflix, and Amazon.
Redbox’s revenue fell 17% last quarter while its DVD rentals dropped 24% year over year. In December, Redbox president Mark Horak left the company after less than two years leading the struggling business.
