Looking to match and exceed Netflix’s offer, Blockbuster Inc announced yesterday its intentions to release a new digital media player which will provide consumers with new titles, more recent than the competition’s six-month old content. The movies will be available online and will be viewable directly on the users’ TV sets.

Blockbuster customers will be able to download high-definition quality movies, paying between $1.99 and $3.99 for each, after an initial fee of $99 that includes the box and 25 films. Once a movie will be downloaded, users will have 30 day period to see a movie, and 24 hours to finish viewing it once the play button is pressed.

Blockbuster Chairman and Chief Executive Jim Keyes stated that the company's longtime emphasis on new releases managed to attract many of Netflix’s customers. "Even though this is a very small market, the movies and the devices are the differentiators," he explained.

The company’s plans also include package deals for the new service and Blu-Ray DVD players and even several alliances with video game console makers, but for now, no other details have been released.

The new box will be available for order at Blockbuster's Web site and according to the official presentation, it should be shipping "in time for the holiday season." Many companies schedule their new releases for December, as it proves to be one of the best times to put something new and attracting out, with people looking to buy a nice gift, prepare a surprise for the family or, particularly for this case, spend some quality time viewing new releases.