Microsoft’s online platform Live has been given a huge boost after it signed an exclusive deal with Netflix that means 360 users will soon be able to stream a plethora of content from the online movie rental service.

Revealed as part of today’s E3 Media Briefing, Microsoft has termed the deal ‘game-changing and will introduce the service to Xbox Live Gold and Netflix subscribers by the end of the year.

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“Watching movies at home will never be the same. Netflix on Xbox 360 is an entertainment first, and we are bringing friends together with the best in entertainment content like no other device in the living room,” said corporate vice president of interactive entertainment live, software and services business at Microsoft John Schappert.

“We are creating a completely new social entertainment experience, and Xbox 360 will be the only video game system where you can access your library of instantly streamable movies from Netflix and turn any room into a virtual movie theatre.”