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LOS GATOS, Calif. - Online movie rental company Netflix Inc. signed a deal to stream movies to Sony Corp.'s Bravia high-definition, Internet-connected TV sets starting this fall.
Netflix offers about 12,000 movies and TV shows for instant streaming over the Internet, for no additional cost to subscribers who pay at least $9 per month for a DVD rental plan.
The Sony deal announced Thursday is the latest step in Netflix's move to expand its streaming service to a broad range of devices, including the Roku player, Microsoft Corp.'s Xbox 360 video game console and recorders made by TiVo Inc. Netflix also has streaming partnerships with LG Electronics and Samsung.
Tony Wible, an analyst with Janney Montgomery Scott, called the deal encouraging and said it could "soon pave the way for (Netflix) to make an appearance on the (PlayStation 3), which we note has blocked access to Hulu as of a couple weeks ago."
Right now the Xbox 360 is the only console that streams Netflix movies.
"While a PS3 deal would be strategic positive for Netflix, we believe investors are anticipating the news and it remains uncertain that a deal will ultimately improve Netflix 's financial outlook," the analyst said in a note to investors.
Shares of Netflix rose 90 cents, or 2.3 percent, to $39.60 in late morning trading. American Depositary Shares of Sony added 12 cents to $24.52.
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