If you’re looking for another way to stream video other than the already available options like Netflix, Hulu, HBO Go, and the like – another service is one step closer to becoming a reality.

Back in February, Redbox parent company Coinstar and Verizon announced a partnership that they said would culminate in the launch of an all-new Redbox streaming service, titled “Redbox Instant.” We were told that the service would be subscription-based, and would include packages that gave subscribers access to physical DVDs as Redbox Kiosks as well as access to the streaming content.

Now, according to Fast Company, Redbox Instant is launching in internal alpha testing today. Soon after that, we’ll see a beta program, and eventually the service will go live in the closing months of 2012.

The Redbox Instant website is up and displays this landing page:

We still don’t know anything about the pricing structure – except that it will definitely be subscription based. Here’s all that the Redbox Instant site has to offer right now:

All consumers have immediate access to new-release DVD and Blu-ray Disc® movie rentals through more than 36,800 Redbox kiosks nationwide and can instantly view popular entertainment content anywhere, anytime, using the devices they prefer with a Redbox Instant by Verizon subscription and video on-demand streaming service. The venture plans to introduce its unique product portfolio in the second half of 2012.

“DVDs at the kiosk + instant streaming hits, all in one fist-pumpin package.” Sounds like a worthy competitor for your streaming video dollars – but we’ll have to see the details before we make any such assertions.