Netflix has reached an agreement with Epix to include films from Paramount, Lionsgate and MGM Studios as part of its Watch Instantly offerings, starting September 1. The films will be available on Netflix only 90 days after their pay TV debuts.

This deal with Epix will make Hollywood movies available to Netflix subscribers far more quickly, and in far greater numbers, than they are currently. And they're good ones! Think, potentially, the new Star Trek, Indiana Jones, and so on.

The LA Times reported that this deal could cost Netflix some $1 billion over its multi-year lifetime. [Market Watch, NYT]