Business News

Companies vie for place in streaming video biz

Posted: Feb 7, 2012 10:14 AM by CBS News

More companies are getting into streaming video than ever. Verizon announced a new service in partnership with movie rental giant RedBox on Monday and some predict Amazon may be next in entering the streaming video fray.

"People know it is the future of TV watching," business and economics correspondent Rebecca Jarvis said on "CBS This Morning."

So who are the big players looking to get a piece of the video action? Netflix, Hulu, Time Warner, Amazon, Verizon and Coinstar, among others, are all positioning themselves to score big with consumers.

Video: Netflix gets competition: Verizon RedBox deal

Currently, 115 million homes in the U.S. have a TV. But by the year 2014, half of those homes will have an internet-enabled TV. That's a big market, so what factors will play a part in a service succeeding with consumers?

Price of subscription, the content available, the technology used to view the streams, and the service of the provider will all be important to consumers, Jarvis said.