Redbox Instant, a streaming video service launched in March 2013 and jointly operated by the DVD rental kiosk firm's parent company Outerwall Inc. and Verizon Communications will be permanently shut down on Tuesday, the two companies announced in a statement Saturday. According to the announcement, Redbox Instant will cease operations at 11:59 p.m. Pacific time on October 7, and that information on applicable refunds would be emailed to customers and posted online on October 10. Users of the service will be able to continue to stream movies and use their Redbox kiosk credits until that time.