According to the press release, the streaming disc will be a Blu-ray disc that utilizes BD Live to access Netflix.  It sounds like users can pop the disc in and they’ll be booted up to the normal Netflix menu for devices.  Discs are free, and are up for preorder on Netflix now.

Basic DVD and streaming service costs the usual $8.99. You can be sure that Netflix is banking on the addition of the PS3 to increase the amount of subscribers that make the jump to Blu-ray for a few extra dollars a month.

This is definitely a huge opportunity for Netflix, but the inability to take care of this via firmware makes Sony’s PS3 look more like a gaming system and less like a realistic option for a standalone Blu-ray player.