Redbox, Verizon Shut Down Streaming Video Service

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Redbox Instant by Verizon was shut down on Tuesday, after the pair of companies decided it they couldn’t compete with Netflix, Amazon Instant and Hulu.

“The service is shutting down because it was not as successful as we had hoped it would be,” RedBoxInstant.com said on a web posting last week.

Verizon will likely try to get back into the video streaming service at some point, but now that two efforts have been shot down, including the Dish/Blockbuster streaming service that is also no longer.

Earlier this year, Verizon bought Intel’s Web TV business that the company never launched, and Verizon also secured programming rights from Viacom last week.

Logically, Verizon will work out a way to get a video streaming service going for smartphones and tablets.

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