Washington, D.C. (September 23, 2011) -- At 1 p.m. ET today, Blockbuster is scheduled to hold a press conference at which it will announce a new streaming plan to compete directly with the suddenly wobbly Netflix.

Blockbuster, now owned by Dish Network, which purchased the company in a bankruptcy auction, is calling the conference, 'A Stream Come True.' The company's press invitation says the new plan will be "the most comprehensive home entertainment package ever."

You can watch the event live at 1 p.m. ET/10 a.m. PT here at TVPredictions.com, thanks to Ustream.com. (See the video box below.)

So be sure to come back here at 1 p.m. ET to tune in. The event could go down as a turning point in the streaming wars and it could return Blockbuster to the top spot in home entertainment after struggling the last few years.


Live streaming by Ustream

For background, Netflix, whose stock has plunged nearly 38 percent in the last week, is reeling due to the company's decision to change its pricing structure and separate its DVD and streaming divisions.

The company says it will likely lose one million subscribers in the third quarter thanks to the pricing change and it could lose more in the fourth quarter.

It will be interesting to see if Netflix changes its pricing structure following today's Blockbuster conference.

To see Swanni's Black Friday predictions, click: Black Friday.