Netflix To Stream Paramount, Lionsgate, MGM movies

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)

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