Facebook with Warner Brothers has entered into the streaming movie and TV arena. What does this mean for Netflix? This is a good move for Facebook who has more than 600 million users. I read through a few articles to find out pricing and payment structure and here’s what I found so far.

A 48-hour rental will cost 30 credits, or $3, and be purchased through an application the studio has built for the site. More movies, along with the ability to purchase the titles outright, are coming. Source: Fox NewsThe Dark Night

Netflix is moving away from its mailer business model and going fully online which means more selections for its customers. The cost of Netflix is $8 per month for unlimited “Watch Instantly” and for the DVD mailers you can probably get up to 2 per week or 8 per month. If you do the math, Netflix is cheaper than Facebook and offers a lot more ways to view movies.

In order to take advantage of the new Facebook streaming movie service, you will need to log into Facebook. You can only watch movies online unless you have a VGA or HDMI out on your computer to view it on your TV. Netflix provides multiple ways to watch movies. You can watch Netflix movies on your computer or stream it to your big screen TV via external devices like a Roku box, Blu-ray player with Wi-Fi, PlayStation 3 or Xbox.

Netflix clearly offers more for less and they should, they’ve been in the streaming movie business a long time.