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Nine Entertainment Co Pty Limited (ASX:NEC) is set to launch a video on demand subscription service similar to Netflix in the second half of 2014.
Media reports say the new streaming services division will be led by former Ninemsn executive Mike Sneesby.
It will also operate on a similar system to Netflix, allowing consumers to pay for the offering on a month-to-month basis rather than be locked into a long-term contract.
The service will also be fuelled by a content deal the network has struck with Warner Bros studio.
However, as part of the arrangement, the service will only be able to air movies from the studio up to nine months after they debut at the cinema.
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