So this is why Netflix's stock went soaring. After countless rumors, Netflix's streaming service is finally coming to the PlayStation 3. Even better: it'll be free for PlayStation Network members that have a Netflix account. According to the press release, "Netflix expects to begin streaming via the PS3 system next month at no additional cost to Netflix members in the United States who have a PS3 system."

It looks like you'll also be able to manage your Netflix streaming queue directly from your PS3; no need to have accessed the site via computer first. It'll be interesting to see how Microsoft responds to the loss of Netflix exclusivity -- perhaps it will open up the service to free Xbox Live Silver accounts? And will Nintendo ever join the fray?

Update: Michael Pachter of Wedbush Securities noted that the Blu-ray disc required for Netflix playback on the PS3 may circumvent exclusivity clauses instituted by Microsoft. "We believe that the exclusive arrangement limits Netflix's ability to appear on the 'dashboard' for the PS3 or the Wii." Additionally, Pachter believes Netflix streaming will expand to Nintendo's console next year. "We anticipate that a similar arrangement will be announced for the Wii in the next 12 months."

hahah all i know is that it plays movies anf pay every month right..... can someone help me here??? THANKS

yes - Netflix is a DVD/Bluray movie rental service by mail but they also let you stream a lot of movies & Tv shows on PC & other compatible devices - so you will be able to stream movies to your PS3 using there service for as low as $8 a month about

Visit www.;Netflix.com for more info on there service

sounds good

cool but I rarely watch movies so I won't use it enough to warrant paying for it, but nice to have another leg up on the competition.

if im not playing a game im watching movies... They have Tv shows also.......... its worth trying - they give you free trial

ok i pay 8 dollars a month right? how long can i keep the movie in my ps3?

whats the point of the PS store movies??

oh, ok so theres no point on renting on psn store

nope no point renting on PSN store for $4 SD rentals or $12 a month for unlimited Streaming movies/shows & one disc in the mail includeing blu-ray

Im just waiting for my PS3 disc to get shipped - i got a bluray shiped on sat. & will be here tomoorw but i hope they get me my PS3 disc soon

No Netflix in Canada. Sucks dick.

that sux - i called Netflix today to ask where my PS3 disc was & they said some have gone out & i will recieve an email when mine does later this month - he said they are trying to get them out & made as fast as possible.... so it looks like they didn't excpect so many people wanting it if they didn't have enough disc's - i hope i get mine soon because im canceling my cable soon