• Bloomberg, Sunday, August 29, 2010 11:22 PM

Netflix, the online movie-rental service, introduced an application on Apple Inc.'s iPhone and iPod Touch for subscribers to watch streaming movies and television shows. The application is free to download from iTunes and requires a subscription to Netflix, whose plans with streaming and mail-order rentals start at $8.99 a month.

Netflix is expanding its online and mobile business to compete with Coinstar Inc.'s Redbox movie-rental vending machines, pay-per-view on cable and Hulu LLC's online TV streaming. Netflix is spending money on exclusive content for its "Watch Instantly" service, recently adding films from pay-TV channel Epix, movies owned by Relativity Media LLC and TV shows such as "Nip/Tuck." Netflix users can continue watching where a video stream was stopped, even when switching between devices tied to their Netflix account.

Read the whole story at Bloomberg »