With the help of LG, Netflix just took another giant step into your living room. With the production of the LG BD300 Network Blu-ray Player, Netflix users will now be able to stream Netflix videos to their TV.

(Image courtesy: homotron.net)

The BD300 to be released this September will allow members to stream content from an expanding catalogue of 12,000 movies and TV episodes, straight to their television. Netflix members will use their accounts to access the service at no additional cost. Simply queue up the desired entertainment in your individual instant queue and it will automatically display on your television, ready for playback in a promised 30-seconds or less. The catch? Although the BD300 is a fully functional Blu-ray player, you will only be able to stream standard definition video from Netflix.

Netflix now has streaming capability on the BD300, a Roku set top box and the Xbox360. Could this be a glimpse of the next true innovation in the movie rental industry rendering the very definition of the word “rental” obsolete?