After Microsoft released the New Xbox Experience last November, Xbox LIVE Gold Members who subscribe to Netflix have been able to enjoy Netflix’s “Watch Instantly” service through their console. While PS3 owners have been wondering for a year when the instant streaming service would come to their console, there hasn’t really been much word about expanding to the PS3. However, yesterday Sony and Netflix broke the news that instant streaming would be available for the PS3 later this year.

Similar to the service available for the Xbox 360, users are required to have an unlimited membership plan from Netflix (which start at $8.99 a month) in order to stream content instantly. Unlike the service offered on the 360, which, just like online multiplayer, requires members to subscribe to a Gold account, the PS3 version of the service is available at no additional cost to Netflix subscribers. In addition, rather than be downloaded onto the console itself, the service is available through a free of charge Blu-ray disc that subscribers can already reserve and should expect to have by year’s end.

[Source]