Law & Order re-runs and poor romantic comedies fans rejoice! In the latest twist in the “lose money before market share” saga that is the video rental industry, Netflix (NASDAQ: NFLX) has decided to let its customers watch as many movies online as they want.

Before, Netflix allowed one hour of online viewing per month for every dollar that the customer spent on subscriptions for the DVDs-by-mail service. Now, you can watch until your heart’s subject matter. Now all Netflix needs is some good online movies. As Tracy Coenen recently discussed on WalletPop, the pickin’s are pretty slim.

According to Netflix, the most popular movies for online viewing have been the

TV series Heroes, The Office and 30 Rock, as well as feature films, The Sum of All Fears and The Italian Job and Academy Award winners Pan’s Labyrinth and Letters from Iwo Jima.

The Sum of All Fears? That’s like five years old! But unlimited viewing and a hopefully expanding online collection should help Netflix compete with Apple (NASDAQ: AAPL)’s new online film service.

Whether Netflix will be able to compete and still produce money remains to be seen.

Original post by Zac Bissonnette

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