Here at ITK we’re huge fans of Netflix.  Partly because it’s a great deal for basically anyone who likes to rent a movie or two a month, but even more so because of the growth its bringing to video streaming.  We’ve always thought that streaming content was the future, and Netflix CEO Reed Hastings has confirmed for us now that he agrees.  When announcing their third quarter financial results, Hastings stated that Netflix is “now primarily a streaming company that also offers DVD-by-mail” and that while Canada already has a less expensive, streaming-only subscription available, the US could see the same offering sometime this quarter. Read on for pricing details and more!

This would be great for multiple reasons.  First, it would be less than $8.95 a month, which is already a steal.  This would mean more people could try Netflix with less risk, and would also mean more people would stay with Netflix.  This is important for two reasons.  One is that we really think Netflix is a great service for almost anyone who likes movies at all.  More importantly though, is the fact that the more popular streaming becomes, the more pressure Netflix will be able to exert on movie studios to get better and better movies on the streaming service.  While the service offers some great movies now, it definitely lacks in newer titles.  And while even the new release selection has improved over the last year, its got a bit of a way to go yet.

Following the big Netflix news closely though is the rumor out of AllThingsD that Hulu Plus subscriptions might be dropping in price by 50% to $4.95.  This is huge because with Hulu Plus set to explode onto devices in much the same way Netflix has, you would now have access to basically all the best TV shows (except HBO shows) the day after they air, as well as a complete backlog of every episode from every season for the most shows.

These 2 news items combined create a very cool and unique opportunity for some people.  If you are a person who loves network TV and movies, you could theoretically dump cable and pay $10-$15 a month for Netflix and Hulu Plus and save yourself a ton of money, while watching TV on your schedule.  We’ll still have to wait and see if the Hulu Plus price drop rumor actually comes to pass, but with a little luck, viewers are about to get a few more (CHEAP!) options for seeing all their favorite content on the big screen.

What part of this are you most excited for?  Do you stream a lot now?  If not, might a cheaper Netflix plan get you to try it?  Let us know below, or on Facebook or Twitter!

Sources: Engadget on Netflix, AllThingsD