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Digital over discs? Redbox reportedly looking to give streaming another shot

If at first you don’t succeed, try, try again. Redbox seems to have taken note of the saying, given its reported interest in launching another video streaming service less than two years after Redbox Instant, its joint attempt with Verizon, folded. The company is said to be working on a successor called Redbox Digital, and it may go into beta testing soon, according to Variety.

With Redbox’s revenue down over both last quarter and 2015 overall, the company has no doubt seen the writing on the wall when it comes to the hard-copy format. But according to the report, its approach to streaming this time around will be different; rather than offering subscriptions like Netflix and Hulu, Redbox Digital will offer on-demand videos for rentals or digital purchase, similar to iTunes, Vudu, Google Play, and others. Content will reportedly be viewable using connected devices like Chromecast and Roku, and customers will also be able to earn points with their rentals and purchases, just as they do with the existing loyalty program.

Related: Vinyl made more money than every free on-demand streaming service in 2015

Redbox hasn’t confirmed the news, but it hasn’t issued any denials either. “Redbox continually looks for ways to enhance our customer experience,” wrote a company spokesman in a statement to Variety. “For tens of millions of consumers, Redbox is their source for new release rentals without a subscription. As such, we regularly conduct tests of potential new offerings, that may or may not be brought to market, as part of our ongoing commitment to provide additional value.”

It sounds as though Redbox is still exploring the possibility, and any hesitance is understandable given the ill-fated Redbox Instant. The venture was plagued with multiple problems, including credit card fraud and a relatively small content library compared to its competitors. Additionally, its rivals had gotten a head start in creating original content, which has only increased in the last two years.

Redbox Digital may have chosen a better niche for itself this time around, but it still faces formidable competition. We’ll have to wait and see whether the company takes the plunge and officially launches the service, and if so, if the second time is the charm.