The announcement comes as the competition for Netflix has been heating up.
Hulu, the online site for streaming television and movies, is starting to tap into Netflix's market. Last month the company announced Hulu Plus, a $9.99 per month service that will provide users with streaming content of some of their favorite TV shows, like Glee and Modern Family.
Reports have also surfaced that Hulu could be readying itself for an initial public offering.Verizon (VZ) has also announced that it will offer its FiOS TV subscribers the opportunity to watch live shows on their iPads. Verizon currently allows subscribers to watch on-demand video on mobile devices. Other potential competition includes HBO to Go, ABC's iPad application, Coinstar's (CSTR) expansion of Redbox kiosks and potential move into streaming content, and Comcast's (CMCSA) on-demand library. Netflix is keenly aware of its potential problems, announcing earlier in the month a $1 billion deal with EPIX, a a joint venture between Viacom (VIA), Metro-Goldwyn-Mayer Studios and Lions Gate Entertainment (LFG) that could add up to 20,000 new titles to Netflix's streaming content. -- Written by Jeanine Poggi in New York.
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