Redbox is getting into the business of instant streaming. The company, which has become known nation wide as the company that offers movie rentals through big red (and sometimes other colors) vending machines is now trying to get a foothold on the instant streaming business. They have a beta streaming plan out now that is only available to certain people, but they plan to roll our their monthly subscription fee rental service the end of first quarter or beginning of second quarter of 2013.

Their plan for streaming is set to be $6 per month, which is $2 cheaper than Netflix or Hulu Plus. If you want to get an $8 plan, that will give you unlimited streaming and 4 Redbox rentals each month, making each rental add-on 50 cents instead of the usual $1.20. If you want to step up to Blu-Ray, that will cost you $9 per month. The step from $8 DVD to $9 Blu-Ray costs $1, but if you actually use it on 4 Blu-Ray movies, which rent for $1.50, then you would save a total of 20 cents by upgrading to the Blu-Ray plan. However, if you rent regular DVDs on your Blu-Ray plan, it wont actually save you that much. It may be better to sign up for the DVD plan, and if you rent even one of the 4 in DVD youll save money.

They are partnering with Verizon to help deliver the content, and have agreements with Epix to get movies delivered. They also have deals with Paramount, MGM, and Lionsgate.