Netflix in More Trouble? Blockbuster Preparing for Big Announcement

Netflix's movie rental business rival Blockbuster is set to make a huge announcement this week.

At a media event planned for this Friday, Blockbuster promises to reveal "the most comprehensive home entertainment package ever."

Blockbuster, who recently became a content satellite provider for TV provider Dish Network, is keeping any details on the event and announcement under wraps.

Last week, Bloomberg reported that the company's big reveal will deal with Blockbuster offering their streaming services to Dish Network subscribers.

Those who no longer want Netflix will be expected to add a satellite dish to their homes. Physical rentals are also expected to be a part of the new package.

Some feel that the move is meant to play off of the customer dissatisfaction brought upon by Netflix's recent policy changes. Netflix has lost a million subscribers in the last three months so far. Other competitive streaming options that are currently offered are Wal-Mart and Amazon's services.

At the moment, Blockbuster offers its customers a rent-one-DVD-at-a-time plan that sells for $9.99 a month; Netflix's is $7.99.

As part of Blockbuster's plan, customers also get access to new releases 28 days before Netflix. Some of Blockbuster's streaming service content will soon be taken off Netflix, specifically content from the Starz and Disney networks.

While Netflix's stock has fallen 30 percent due to CEO Reed Hastings recent announcements of the company's policy changes, Dish Network’s stock has climbed to 15 percent in the last five days.

Blockbuster was purchased by the Dish Network last April during the company's bankruptcy phase. Some say the introduction of a video streaming app will benefit both companies.

The Blockbuster press event will be held this Friday from 10 a.m. to 11 a.m. PST.