Odds are high that you or someone you know has rented a movie from Redbox. But if for some reason you don't know about Redbox, here is a quick rundown.
Redbox is quite literally a red box that sits outside stores like Wal-mart, Walgreens, and CVS. It is essentially a vending machine for DVD's and Blu-Rays.
There are two ways to rent. One is to simply stop by the Rexbox and hope they have the movie you are looking for. (The touchscreen menu is incredibly easy to use). The second is to reserve movies in advance online or through their iPhone app. (FYI - if you have not signed up for an account with Redbox, you can do so now and earn a free rental!)
It costs $1.20 (before tax) to rent a DVD and $1.50 (before tax) to rent a Blu-Ray.
And as convenient and cost-effective as Redbox is, they are actually looking at expanding into instant streaming. A new landing page at redboxinstant.com announces a new partnership between Redbox and Verizon.
And according to PC Magazine, Verizon and Redbox have actually started testing this service! Very few details have been released - we don't know what the pricing structure will be, or if this service will only be available to Verizon customers.
Only time will tell if this streaming venture will really be able to compete with other streaming/rental services like Netflix. But if I were you, I'd keep an eye out for it!