Blockbuster, arguably one of the slower companies to innovate in the next-gen movie market, is developing a set-top device to rival the likes of Apple TV, The Hollywood Reports states.

The standalone branded gadget will stream films directly to TV sets and is expected to be announced "sometime" this month.

Apple's Apple TV product received a revamp earlier this year in the face of disappointing sales while Blockbuster rival Netflix has been linked with LG in creating a similar device.

When launched in the States, the Blockbuster product would be an offshoot of Movielink, the online download film service Blockbuster acquired last year.