Jan 03, 2008 04:41 PM EST

Goodbye DVD's! Cancel The Format War Thanks To Netflix and LG

Goodbye DVD's! Cancel The Format War Thanks To Netflix and LG
Netflix Inc. and LG Electronics has announced that they will be paring up to distribute a set-top box that will allow customers to stream movies and other programming straight to your TV from the internet. 

"Consumers crave compelling and immediate content, and the Netflix online streaming movie feature can provide instant gratification. This alliance underscores LG's goal of developing smart technologies that deliver flexibility, convenience and control to consumers," said KI Kwon, President of the Consumer Electronics Division of LG Electronics USA, Inc.

This collaboration will result in an offering thousands of movies instantly to consumers for one low, monthly fee. Netflix 7 million plus members are currently able to get the titles through the mail as well as instantly on the internet via computer. This service will eliminate the need for a computer for instant movie viewing.  

"Internet to the TV is a huge opportunity.  Netflix explored also offering its own Netflix-branded set-top boxes but we concluded that familiar consumer electronics devices from industry leaders like LG Electronics are a better consumer solution for getting the Internet to the TV, said Netflix Founder, Chairman and CEO Reed Hastings.

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