Netflix – the major US DVD rental and online movie streaming company has signed a deal with premium TV channel Epix to provide broader array of movies for its streaming service. The deal reported to be closed at $1 billion over five years, which will enable Netflix to show Epix’s premium movies on its online streaming service.

Ted Sarandos, chief content officer for Netflix stated –

Adding EPIX to our growing library of streaming content, as the exclusive Internet-only distributor of this great content, marks the continued emergence of Netflix as a leader in entertainment delivered over the Web,

The EPIX deal is an example of the innovative ways in which we’re partnering with major content providers to broaden the scope and freshness of choices available to our members to watch instantly over the Internet,” he added.

The deal would add “an array” of new releases and titles from Paramount, Lionsgate, and MGM, which come together for more than 21% of movie studio market share. Subscribers can get access to movies, but only 90 days after it hits the pay TV screen. Yet, it adds a number of movies, the companies are not exposing if all Epix movies will be accessible under the deal, to Netflix that will not be available otherwise. Seems like Netflix is looking to move away from DVD-rental business, which is actually the chief income generator.