In a move likely to strike fear among Canadian broadcasters, Netflix Canada launched Wednesday with an Internet movie and TV series subscription service priced at $7.99 a month.

Netflix also unveiled a series of supply agreements with U.S. and local distributors to entice Canadians off of their cable and satellite TV packages, including licensing pacts with Epix-partners Lionsgate, MGM Studios and Paramount Pictures, Sony Pictures Entertainment, Twentieth Century Fox and Universal Pictures, and Canadian players Alliance Films, Maple Pictures, Entertainment One and Mongrel Media.

Netflix Canada will launch first in the English language, with French to be provided down the road for the Quebec market.

More to come.