Joining a litany of devices that are already Netflix capable—like the Wii, PS3, Xbox360, PC, iPad, and iPad Touch—the iPhone is the newest into the fold. Subscribers to the DVD-by-mail and watch-on-demand company will have instant access to this product as long as they run iPhone OS 3.1.3 or higher. Starting at only $8.99 a month, subscriptions are competitively priced.

The app streams video as well as gives users access to their instant queue, rating system, show details, and the genre search. As will all Netflix titles, you can stop in the midst of watching on any one device and pick up in the same place you left off on another. A feature that I’ve used more than once to move around the house without disrupting the continuity of my media watching experience.

With the addition to the iPhone to their bag of tricks, Netflix will draw even more revenue from their advertising. And they need it to rev up their competition with Hulu, Redbox, and cable television. Especially important after they had some issues with their shares took a tumble last month.

Another recent addition to the iPad streaming market has been Verizon. So, along with the corporations above, Netflix is certainly starting to feel the heat.

Now that they’ve got Apple’s product in the bag, there’s news that Netflix has plans to hire an Android developer, so expect that they’ll be coming to a smartphone near you.