Verizon and Redbox will launch an unlimited online video streaming service next year that will undercut Netflix’s monthly subscription price and offer discounts off movies rented from Redbox’s ubiquitous DVD kiosks.

Details emerged about Redbox Instant when GigaOm discovered the online help section intended to assist beta test customers was initially available to the public.

Some of the points GigaOM uncovered:

• Subscriptions start at $6 a month, but the number of movies and TV shows available will be considerably smaller than what Netflix offers. There will also be a considerable amount of title duplication between Netflix, Amazon Video, and Redbox Instant;
• For $8 a month, the service will also bundle four Redbox credits redeemable for kiosk rentals, with movie reservations taken online and through mobile apps. Unused credits expire at the end of the month;
• In addition to online viewing, customers can also watch on Android/iOS devices, Xbox 360 and select Samsung Smart TVs and Blu-ray players;
• Newer titles will be available on-demand starting at $0.99 each;

Redbox is accepting e-mail addresses of potential customers interested in more information about the service. It is very possible the venture will expand its beta test, inviting those pre-registered to try the service before it is formally introduced to the public.

Some investors on Wall Street have gotten increasingly jittery about Netflix’s largest competitors, because all of them operate diverse businesses that can help subsidize entertainment licensing costs and still undercut Netflix pricing. Amazon charges $79 a year for its Amazon Prime + Video service. Comcast offers its service at $4.99 per month. Netflix has already been under pressure to raise prices even before signing an exclusive streaming deal with Disney estimated at a value of $300 million per year.

“That figure is ironic to say the least because $300 million is what Starz demanded of Netflix 15 months ago as condition for renewal of that exclusive arrangement, and Netflix turned that bid down,” said Eric Savitz in Forbes. “Now, it appears Netflix is paying $300 million per year for the Disney-branded content which would have been on Starzplay in the first place.”