LG’s New Blu-Ray Box Includes Netflix Streaming; “Well Under $500”

imageNetflix (NSDQ: NFLX) announced its first direct-to-TV movie partnership with LG Electronics (SEO: 066570) early this year, but was short on details then. Since then, it launched through a low-cost Roku box. Earlier this month it also announced the Microsoft (NSDQ: MSFT) XBox360 streaming deal.

And now, it has announced more details of the LG player, to be launched in September: it will be a new Blu-ray DVD player that will allow Netflix members to streams movies on their TV sets. It will be costly, however: LG BD300 Network Blu-ray disc player would be priced at “well under $500” at no extra cost for NFLX subscribers. The Blu-Ray part won’t be part of the streaming, though: Netflix movies will be streamed in standard definition. And then selection is still an issue: 12,000 titles (not all movies..this is all videos, including TV episodes) out of a total library of more than 100,000 on DVD for the traditional Netflix service.

Netflix members will use the service’s website to add movies and TV episodes to their queues. Those choices will automatically be displayed on members’ TVs and available to stream..once selected, movies will begin playing in about 30 seconds, the company says.

The LG deal is non-exclusive, meaning LG can add more services from competitors down the line, though nothing has been planned yet. More details in the release.