Tivo and Netflix announced that viewers who subscribe to the services of both companies will be able to access movies and TV episodes instatnly streamed from Netflix on their television sets, at no cost.

Netflix is offered 12,000 movies and TV shows of every genre for its subscribers. For its part, Tivo offers much more than just Netflix content, including Walt Disney Studios and Amazon, music from Rhapsody, videos from YouTube, and even pictures from Picasa Web Albums and Photobucket.

With the TV remote, users will be able to browse through selections and read their summaries of each show. Also, viewers will be able to pause, rewind, fast forward and restart the shows.

During these tough economic times, this would allow people to spend more time at home and avoid paying extra for entertainment by going out.

The cable companies still offer the advantage over Netflix of providing newer titles.