Netflix announced today (Wednesday) that it is launching its online video-rental service in Canada, but there'll be no red Envelopes piling up at Canadian post offices. Netflix said that its library of thousands of movies will be available only via online streaming -- and at a subscription cost significantly lower than what Americans pay for their video-by-mail service. For less than $8.00 per month Canadian Netflix subscribers will be able to access relatively recent films from Sony, 20th Century Fox, MGM, and Lionsgate, as well as older films from the other studios. Films from four Canadian distributors will also be available. "With our launch today in Canada, Netflix is focused on adding meaningfully to the entertainment choices available to Canadian consumers," company co-founder and CEO Reed Hastings said in a statement.