Blockbuster offered few details on the plan, which expands on the company's OnDemand movie downloading service offered through set-top boxes for TVs.
It did not say when the phone service will be available or how much it will cost.
Kevin Lewis, Blockbuster's vice president for digital entertainment, said "thousands" of films will be available.
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The company has been scrambling to find new revenue sources as traffic at movie rental stores wanes and customers move to online video and order-by-mail services like Netflix.