Netflix has reached an exclusive deal for online rights that allow members to watch new films from the three studios that own the Epix pay-TV channel.
Financial terms of the deal have not been disclosed, but an individual familiar with the arrangement said the exclusivity contract will run for five years and is worth approximately $1 billion.
The deal makes Netflix the lead Web-only distributor of films from Paramount, Metro-Goldwyn-Mayer Studios, and Lions Gate Entertainment, which have a wide range of libraries.
The films will be available for online-streaming 90 days after their premium pay-TV and on-demand debuts.
Steve Swasey, spokesman for Netflix, announced the company now has streaming rights to 46 percent of the 2010 box office, versus HBO's 45 percent.