Movie rental company Netflix has signed a deal with Paramount Pictures that would give it access to over 350 titles in the studio’s library, including Iron Man 2, Titanic and Wayne’s World.

The five-year pay TV distribution deal adds to the Netflix Canada offerings as the U.S. over-the-top streaming giant competes against Canadian cable and satellite TV operators in the domestic on-demand online video streaming arena.

“This agreement will allow them (subscribers) to watch some of the latest hit Paramount films as well as an incredible range of the studio’s recent and classic favorites anytime they want,” Ted Sarandos, Netflix chief content officer, said in a statement Monday.

The Netflix-Paramount pact includes the exclusive subscription TV rights to all first-run films.

Titles in the Paramount Pictures package include Defiance, Zoolander, The African Queen, Sabrina and Terms of Endearment.

Netflix launched a pure video streaming service north of the border late last year, and has been steadily acquiring the Canadian rights to film and TV titles to boost its product offerings.

“We are extremely pleased to have concluded this deal with Netflix for the premium pay television window in Canada, offering some of Paramount’s best films to their rapidly growing Canadian subscriber base,” Hal Richardson, president of Paramount Television and Digital Distribution, said in his own statement.