Netflix, Warner Bros. Deal: 'Revolution' and Other Shows Now Available

Netflix has officially signed a deal with Warner Bros. in the hope of keeping up with growing competition.

The two companies agreed to sign a contract that would bring "Revolution," a sci-fi series, to the Internet streaming company. The deal also includes "Political Animals" and "Longmire" in addition to a new series premiere, "The Following," staring Kevin Bacon.

Netflix however, will not be acquiring any film rights. HBO announced on Sunday that Warner Bros. has extended its standing contract with the entertainment company into the next decade, according to CNET. The contract gives HBO exclusive rights to the studio's films for Pay-Per-View.

Netflix has reached out to other studios as well, in hopes of staying on top of the growing competitive market of online streaming. At the end of last year Netflix announced a 2016 contract with Disney for Disney films.

The move comes after other competitors such as RedBox, Amazon, Hulu, and HBO Go have entered the market, offering similar video streaming services. Netflix has also introduced some of its own, original series.

Showtime dealt a blow to the streaming video company two years ago after it introduced its own, online streaming service.

Starz also pulled about 1,000 movies at the beginning of last year, after their contract expired. The year before, Starz had restricted the showing of certain original series on Netflix to 90 days after airing. The shows were originally available only one day after airing.

The Netflix struggle has prompted some to question the importance of movies to online streaming companies. HBO has revealed that "films from Hollywood make up 84 percent of viewing," according to a CNET report.