Blockbuster Streaming Service to challenge Netflix
Blockbuster Inc. (PINK: BLOAQ), which was acquired by DISH Network Corp. (NASDAQ: DISH) earlier this year, is starting a streaming service to rival Netflix Inc. (NASDAQ: NFLX).
DISH Network and Blockbuster Friday announced the launch of the Blockbuster Movie Pass, which will be initially available only for DISH Network customers at $10 per month. The new service combines the best of TV with the best of movies and games. The service will be available to DISH customers from October 1, 2011. The Blockbuster Movie Pass service will allow subscribers to stream videos over the internet and also rent DVDs and video games by mail.
Joe Clayton, CEO of DISH, said that with millions of Internet-enabled DISH Network set-top boxed deployed in U.S. homes and the company’s ability to offer services from the iconic Blockbuster brand, the new service is uniquely positioned to take advantage of the myriad of ways consumers seek access to their favorite movies.
The Blockbuster Movie Pass service will rival the streaming services of Netflix. The launch of the new Blockbuster service comes at a time when Netflix is seeing growing discontent from its subscribers following the recent price hike.
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