Add Netflix to the list of everything that the PlayStation 3 does. Next month, PS3 owners who are also Netflix subscribers can enjoy thousands of movies and TV shows from the comfort of their consoles.
According to the official announcement, which confirms speculation that Netflix streaming would come to a console that isn't the Xbox 360, PlayStation 3 owners will be initially required to have a free, Netflix-provided Blu-ray disc in the console to watch said movies, taking advantage of Blu-ray's BD-Live tech.
(You can quickly request one at netflix.com/ps3, PlayStation 3 owner.)
Later, we should probably expect Sony and Netflix to offer a firmware update or application that will do the work of the Blu-ray disc. Looks like the PS3 implementation of Netflix will be similar to the Xbox 360 version, letting users browse and update their "Watch Instantly" queues from the XMB.
More details on the good news is available at the PlayStation.blog.