In an attempt to woo Netflix customers who want either streaming video, DVD rental or both, Verizon and Coinstar’s Redbox have joined forces to provide a new video service. The way they made the announcement, seems like they’re kind of saying, “Yeah, we’re not going to be Netflix, so, pick us!”

The joint venture has yet to be named, says Forbes, and will be launched in the second half of this year. Redbox kiosks will do the work of physical rentals, while Verizon will handle the demand streaming and download service.

Verizibox/Redizon (just trying things out!) says they’ll offer “subscription services and more in an easy-to-use, flexible and affordable service that will allow all consumers across the U.S. to enjoy the new and popular entertainment they want, whenever they choose, using the media and devices they prefer.” Again, we’re not Netflix!

The bigger player in this company will be Verizon, holding 65% stake in the project, to Redbox’s 35%,

It doesn’t sound yet like they’re reaching into the realm of mailing DVDs directly to customers’ homes, but there are likely more details forthcoming. Including that name — we can’t wait to find out if it’s Verboxizon or Redzonibox. Or hey, they could probably grab the name “Qwikster” for a song.

Coinstar forms DVD/Streaming Venture With Verizon [Forbes]

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