Every time someone brings up Blockbuster in conversation, I always jokingly ask, “What’s that?”

The video rental chain has been closing its doors store by store over the past few years. Its demise shows how the world is transitioning in terms of media consumption.

Before, it was all about the physical copy. But today, people embrace digital downloads.

Streaming through numerous services to different devices, consumers can instantly enjoy their favorite shows and movies without having to leave their homes.

The main factor in Blockbuster’s downfall is services like Netflix. The DVD-by-mail service dominated the marketplace and only got stronger as it expanded its streaming library.

Brick-and-mortar stores have failed to keep up.

Unfortunately, Netflix has pulled more than one boneheaded move over the past year, enraging a majority of its customers. Between its price increases and its attempt to split its business into a service called Qwikster — which it quickly reneged on — I promised at the end of a previous column to alert my readers if a better service came along.

It seems that day is almost here.

Last week, Verizon announced it would team up with Coinstar (the people who bring you Redbox) to directly compete with Netflix with what is said to be “the best of both worlds.”

Cue Hannah Montana.

Details are slim because of “competitive reasons,” but the service will reportedly become available during the second half of this year, according to Verizon’s news release.

What’s interesting is that the joint venture, currently under the name “Project Zoetrope,” will not include any DVDs through the mail. Then again, with a Redbox kiosk in nearly 30,000 locations around the country, there are plenty of locations to pick up your DVDs with ease.

This could give Zoetrope a huge competitive advantage, considering Redbox gets newly released DVDs the day they come out, as opposed to Netflix’s 28-day waiting period.

Some Redbox kiosks also carry video games, a medium Netflix disregards entirely.

It will also be interesting to see how Verizon handles the streaming side. One would assume it will include non-Verizon devices, but would that mean customers to Big Red would get a discount? Or possibly free service?

As a current Verizon customer, that would make me drop Netflix in a heartbeat.

The big advantage Netflix has besides brand recognition — which, believe it or not, is increasing rapidly since the Qwikster incident of last year — is the sheer girth of its library.

Sure, there may be almost 30,000 Redboxes around the country, but those kiosks can only hold a certain amount of discs. Netflix’s DVD library is home to millions of different movies both old and new.

Obviously, more information on Project Zoetrope will be necessary to declare it the Netflix-killer.

Amazon is currently expanding its free streaming service, which is free for all Amazon Prime members, but it will never take down Netflix because it lacks DVDs.

Verizon and Coinstar have a fighting chance thanks to their recognizable names, but taking down Netflix will be like trying to destroy the iPhone.

While Android offers more features, more handset selections and is a superior platform for some, Apple has the marketing and name recognition to keep its product in the lead. Android is a close second, but I don’t see it affecting iPhone sales any time soon.

The same applies to Netflix.

The company has been around for 15 years. It’s had its bad moments, but it’s going to take something great to fully take its place.

Verizon and Coinstar have a lot of work ahead of them in the future. Let’s see if they handle this venture correctly and win over the hearts that Netflix scorned.