Today, Comcast announced the launch of its new video streaming service, dubbed "Xfinity Streampix," which will be a direct competitor with Netflix and Verizon's recently announced streaming service with Redbox. Comcast says that the service is subscription-based and will allow customers to watch older movies and TV shows instantly by streaming them to TVs, mobile devices, and online platforms.

To help jumpstart the service, Comcast is partnering with the following movie studios and content providers: Disney-ABC Television Group, NBCUniversal, Sony Pictures, Warner Bros. Digital Distribution and Cookie Jar Entertainment.

Our goal is to consistently deliver greater value to our customers and to bring the best anytime, anywhere entertainment on multiple platforms. Streampix is another step moving TV Everywhere forward by giving customers access to an even greater library of popular choices to watch.

Xfinity Streampix is launching to Comcast customers this week, and will be available on devices such as the Xbox 360 and Android-powered smartphones in the "coming year." The service will be bundled with a number of "Xfinity triple-play" packages, or a separate $4.99 per month.