Typically when a film is released, it goes to theaters, then DVD and Blu-ray, then pay TV channels like HBO and Showtime, and then finally to streaming services like Netflix.  The deal with Nu Image moves Netflix forward a bit, putting Netflix release dates in line with those of pay TV services.

If you're not familiar with the Nu Image name, you'll at least be familiar with their films.  They've got titles like 'Black Dahlia,' 'Brooklyn's Finest,' '16 Blocks,' and more recently 'The Expendables.'  Netflix says to expect 10 to 15 films from Nu Image/Millennium Films a year for the duration of the deal.