Miramax films to stream on Facebook

 Hollywood studio Miramax began making some of its films available for online viewing as rentals at social networking powerhouse Facebook.

The release of free Miramax App software enhanced Facebook's status as an online venue for entertainment as well as an Internet neighborhood for exchanging news, views and happenings with friends.

"We are big believers in Facebook and what it could mean for the future of the content business," Miramax said in a blog post.

The initial version of the application allowed for streaming movies but the software will evolve based on feedback from users, according to the film studio.

Movie rentals cost three dollars each, with payment accepted in the form of credits at Facebook's payment platform.