Netflix Grows Streaming Library Again

Netflix partners with Nu Image/Millennium Films, which will add about 10 movies a year to its streaming library.
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NEW YORK (

TheStreet

) --

Netflix

(NFLX) - Get Report

announced yet another deal on Wednesday that will expand its streaming library.

The movie rental firm will partner with Nu Image/Millennium Films, which will give Netflix rights to stream first-run theatrical films distributed through the studio during the "pay TV window." These films have been typically licensed to premium TV channels.

Netflix said that through the agreement it expects to add between five and 10 theatrical films each year, just a few months after their DVD release.

Nu Image and Millennium Films are best known for big budget action/thriller movies, including: "The Expendables," "John Rambo," "Brooklyn's Finest," "Righteous Kill," "16 Blocks" and "Black Dahlia."

Shares of Netflix are gaining 3.3% to $146.50 in morning trading.

Coinstar's Redbox Hits 1 Billionth Rental...Time to Buy?

var config = new Array(); config<BRACKET>"videoId"</BRACKET> = 605424945001; config<BRACKET>"playerTag"</BRACKET> = "TSCM Embedded Video Player"; config<BRACKET>"autoStart"</BRACKET> = false; config<BRACKET>"preloadBackColor"</BRACKET> = "#FFFFFF"; config<BRACKET>"useOverlayMenu"</BRACKET> = "false"; config<BRACKET>"width"</BRACKET> = 265; config<BRACKET>"height"</BRACKET> = 255; config<BRACKET>"playerId"</BRACKET> = 1243645856; createExperience(config, 8);

The announcement comes as the competition in the video rental and streaming market is heating up.

Google

(GOOG) - Get Report

, for one, announced earlier this week that it plans on launching its TV platform globally next year and will debut this fall in the U.S.

The service allows users to search the Internet, including its own YouTube offerings, as well as live TV listings.

Apple

(AAPL) - Get Report

also introduced a new version of its Apple TV device last week, which promises to stream TV shows, movies and videos, including content from Netflix.

Netflix rival

Coinstar

(CSTR) - Get Report

, the operator of Redbox DVD kiosks, is also looking to get into the streaming business, CEO Paul Davis told

TheStreet

. The company, which rented its 1 billionth DVD over the weekend, could not provide a timeline on when the service would launch, but did say it is one of its priorities right now.

Netflix is keenly aware of its potential problems, announcing earlier in the month a $1 billion deal with EPIX, a joint venture between

Viacom

(VIA) - Get Report

,

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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