It’s a Friday night and it’s movie night. It’s time to turn on your PS3, AppleTV, or any other Netflix enabled device and start flipping through their streaming library. After about 10 minutes of scanning through the Netflix library you realize that there are not any new movies you are particularly into at the moment. You contemplate opening up Hulu Plus, but you quickly remember that their movie selection sucks and they are really only good for catching up on your weekly sitcoms. How about a quick trip to Blockbuster to checkout the new releases?… Nah, why pay for a movie when you can watch one at home for free.

Don’t you wish there was a way you could instantly get a new release movie for free? Maybe if Redbox had a monthly service where you could get instant streaming movies or simply go to one of their Kiosks at the local drugstore and pick up the latest movie release. Well, thankfully yesterday Verizon and Redbox announced that they will be joining forces in a venture to compete with Netflix.

Verizon and Redbox will be launching their media subscription service, codename Project Zoetrope, within the second half of 2012. This new subscription service plans to have a large collection of Movie libraries to stream or download immediately, additionally with the 35,000 kiosks Redbox currently has available you won’t have to wait a couple days to get the latest movie release from your subscription service.

Verizon is a major player in the mobile world, so when this new service is available you will certainly see mobile versions of the service available to iOS, Android, and any other mobile platform device.

Currently there is no news as to whether each company will decide to keep their name as the Verizon Redbox service, or perhaps another name. In any case, industry competition is usually always good for the consumer You can read more about Verizon and Redbox from this TechCrunch Article.