Washington, D.C. (September 18, 2011) -- Dish Network this week will unveil pricing for a new Blockbuster streaming movie service that will compete directly with Netflix, reports Bloomberg News.

The wire service writes that Dish will hold a press conference on September 23 to announce the details of the service, including subscription costs.

The satcaster, which purchased Blockbuster Video in a bankruptcy auction earlier this year, apparently believes that Netflix is now vulnerable because of a recent pricing change that has upset numerous subscribers.

Update: Netflix: We're Sorry, But Not THAT Sorry

Netflix said last week that it expects the new pricing plan, which effectively forces subscribers to choose either disc rentals or a streaming plan, could cost the company one million subscribers in the third quarter.

Starting this month, Netflix no longer offers a $9.99-a-month plan allowing subscribers to stream videos and rent one DVD at a time. Instead, you now have to pay $15.98 a month to keep the combination of the unlimited streaming option and the one DVD at a time rental plan.

Bloomberg reports that Dish will initially offer Blockbuster's streaming service with its pay TV service. Consumers who don't currently subscribe to Dish will be able to use the Blockbuster streaming service at a later date.