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Comcast Corp has announced that it will soon launch an online video service which will offer various TV shows and movies.

The announcement also means that the No. 1 U.S. cable operator, will be the latest amongst others to take on Netflix Inc.

The new service, called Xfinity Streampix, will be available only for Comcast's cable TV subscribers.

However, the service is also expected to be available for others as a standalone service under programming agreements that the company has with some of the partners that supply it with shows and movies.

Streampix will be free of cost for Comcast's top video packages. Subscribers of lower tiers will be charged an extra $4.99 a month for the service.

The service will include TV shows and movies from Walt Disney Co, Time Warner Inc's Warner Bros, Sony Pictures, NBC Universal and other content partners.