Beginning September 1, movies from the Epix TV channel will start popping up on Netflix. Movies will arrive 90 days after being broadcast on Epix TV Channel. This is a sign of Netflix’s push to stream more movies to homes directly via computers, game consoles, Blu-ray players and TVs.
So expect within the coming months for more and more movies to be popping up under the instant watch section coming to a PC, console or TV near you.
LOS ANGELES – Netflix Inc. has reached a five-year deal worth nearly $1 billion to stream movies from Paramount, Lionsgate and MGM online starting Sept. 1 — a major move that boosts its “Watch Instantly” offerings and makes the studios’ joint pay TV venture Epix immediately profitable.
The agreement marks a further push by Netflix to stream movies to homes directly via personal computers, game consoles, Blu-ray players and TVs, and away from its rent-by-mail method. Netflix is trying to get its customers to view movies online so it can save on postage costs. Its shares jumped more than 6 percent.
The deal vastly increases the amount Netflix spends on streaming movies annually. It spent $117 million in the first six months this year on streaming, up from $31 million a year ago. The new deal adds roughly $200 million a year to that tab.
Epix, the pay TV channel launched last October by Viacom Inc.’s Paramount Pictures, Metro-Goldwyn-Mayer Inc. and Lions GateEntertainment Corp., will make the movies, including new releases, available to Netflix 90 days after they premiere on premium pay TV and subscription on-demand. Epix holds subscription pay TV rights to new releases and movies from its partners’ libraries. (via Yahoo News)