In its path to own the movie-renting business, Netflix ( NFLX) announced today that it will stream movies to Sony's ( SNE) Bravia high-definition, Internet-connected TVs starting this fall.

The online retailer is planning on expanding its streaming service to the Roku player, Microsoft's ( MSFT) Xbox 360 video-game console and recorders made by TiVo ( TIVO). It also has partnerships with LG Electronics and Samsung.

Netflix offers about 12,000 movies and TV shows for instant streaming over the Internet, for no additional cost to subscribers who pay at least $9 per month for a DVD rental plan.

The company has been slowly gaining steam against rival Blockbuster ( BBI). In April, Netflix posted a 68% surge in first-quarter earnings to $22.4 million, or 37 cents per share, and said it has added 1.6 million subscribers since September, giving it more than 10 million customers.

Blockbuster, on the other hand, saw profits plunge 42% in its first quarter to $24.9 million, or 12 cents a share.

Shares of Netflix rose 3% to $39.74 in afternoon trading.
Copyright 2009 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

If you liked this article you might like

There Are Many Signs Investors Have Totally Forgotten About S&P 500 Correction

There Are Many Signs Investors Have Totally Forgotten About S&P 500 Correction

Hasbro CEO: I Am Totally Bullish on Star Wars Franchise

Hasbro CEO: I Am Totally Bullish on Star Wars Franchise

Film Favorites: This Trio of Movie Theater Stocks Gets Excellent Reviews

Film Favorites: This Trio of Movie Theater Stocks Gets Excellent Reviews

Buy Stocks That Are Right for You: Cramer's 'Mad Money' Recap (Friday 2/16/18)

Buy Stocks That Are Right for You: Cramer's 'Mad Money' Recap (Friday 2/16/18)

General Electric Is One Mega-Cap Stock You Must Still Avoid

General Electric Is One Mega-Cap Stock You Must Still Avoid