Paramount, Lionsgate and MGM add films to Netflix streaming

Looking to fortify their catalog of recent movies that can be watched instantly through their online streaming service, Netflix has struck a $1 billion deal with Paramount, Lionsgate and MGM to bring their new releases to subscribers. You can currently get catalog titles from all three studios, but Netflix wanted newer movies sooner. Under the terms of the deal, all three studios will provide new releases to Netflix for online streaming just three months after they debut on pay TV services like HBO or Showtime.

One of the big gets under the deal, which will begin on September 1st, will be IRON MAN 2, a film that previously may have taken years to show up on Netflix’s “Watch Instantly.” But now, with a DVD release this September, it looks to be available to stream sometime in early 2011.

While this is a major step in proving that online streaming is a viable way for mainstream audiences (and not just the tech-savvy) to watch movies, Netflix isn’t satisfied. They’re still looking to lock up deals with HBO and Showtime to bring some of their original programming to their service.

Do you use Netflix’s service? And if so, do you use it via your laptop or through a set-top box like Xbox Live or PSN?