The new agreement will give streaming subscribers access to films like 'Iron Man 2' among others.
Netflix knows where its bread is buttered. Sure, you can get DVDs and Blu-rays in the mail from Netflix, but the streaming service is currently the most convenient and cheapest way to rent movies. It's quickly become the thing the company is best known for.
That's probably why Netflix felt comfortable making a deal that would pay EPIX $1 billion over the course of the next five years in exchange for streaming rights. That's $200 million a year – not exactly chump change.
Under the terms of the deal, Netflix will get the rights to stream movies from Paramount, Lionsgate and MGM just 90 days after they launch on premium TV channels like HBO and, well, EPIX.
You'll see new movies start to show up as early as September 1st.