Verizon Communications is planning a streaming media service that would let you watch movies and television via the Web. The service would be offered separately from FiOs, Verizon's broadband and TV package.

The streaming service could be launched as soon as next year and would compete with the likes of Amazon Instant Video, HBO Go, Netflix, and Hulu.

According to a report by Reuters, which spoke with several people familiar with the plan, Verizon plans to make the streaming service available to about 85 million households, outside its FiOs market, which currently serves some 5 million TV subscribers.

The streaming service would include package programming focusing on movies, similar to Liberty Media's Starz Play and Viacom's Epix, among other options, according to Reuters It also reported that Epix's contract with Netflix runs out next year, meaning others can negotiate for Epix's package of movies from Paramount, Lions Gate, and MGM studios.

Exclusive: Verizon to take on Netflix with Web service [Reuters]