Netflix has signed a contract with the pay TV channel Epix, giving them the rights to Lionsgate, MGM and Paramount movies. Cost of the new deal which will go into effect on September 1st was $1 billion dollars. By signing the deal, Netflix now has access to a larger collection of films that they can show and the deal will also allow them to better compete with the likes of HBO as the movies will be available to Netflix three months after they debut on Epix.

In other words, a feature film comes to the big screen and plays for a few months before it arrives on Epix. Wait three more months and that movie is now available through Netflix and can then be streamed to your game console of choice (Microsoft Xbox 360, Sony PS3 or Nintendo Wii).

Via: Geeky Gadgets, CrunchGear