The Netflix unlimited streaming package has been introduced for just £4.99 a month, with a 30-day free trial to boot - as one commenter points out, this deal has been around since December but Lovefilm has now confirmed that the launch price of £4.99 won't be going up.
This fiver gives you access to any amount of film and TV show streaming through Lovefilm, which, the company is keen to remind you, is available on PlayStation 3, Xbox and iPad, among other devices.
Lovefilm has also taken this opportunity to reveal that it now has 2 million paying subscribers after a record number of people joined in the fourth quarter of 2011.
Although exact figures weren't given, the company says it added "hundreds of thousands of new customers" in October to December 2011 and describes it as "the fastest customer growth rate Lovefilm has experienced since 2009".
The company's staying schtum on the subject of today's Netflix launch, preferring not to comment on its competitors' activities. But reading between the lines, what the company is essentially saying is, "We've been streaming video in the UK since before you were even born, yeah Netflix?" (It hasn't though, if you want to be literal about these things - Netflix-the-company came first.)
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Former UK News Editor for TechRadar, it was a perpetual challenge among the TechRadar staff to send Kate (Twitter, Google+) a link to something interesting on the internet that she hasn't already seen. As TechRadar's News Editor (UK), she was constantly on the hunt for top news and intriguing stories to feed your gadget lust. Kate now enjoys life as a renowned music critic – her words can be found in the i Paper, Guardian, GQ, Metro, Evening Standard and Time Out, and she's also the author of 'Amy Winehouse', a biography of the soul star.