Microsoft has signed an agreement with Netflix to stream its digital content on Xbox 360. The service is available to all Xbox Live Gold customers who are also the Netflix unlimited plan subscribers at no additional cost. It is available starting from today as an upgrade. Just restart your console to receive the update.

The interesting part is that this service is exclusive for Xbox 360. No other console will be able to stream Netflix content. So Playstation 3 and Wii have been left behind the race. There’s also a feature called “Party Watch” to let many groups of people watch the same content simultaneously on different Xbox 360 consoles.

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