Update: Sony and Netflix announced late Sunday that PlayStation 3 users in the United States will have access to streaming movies and other video beginning next month at no additional cost.

Hastings wouldn't comment on who the next partner might be, citing contractual agreements. But analysts and the blogosphere have reached their own conclusion, believing that Netflix has likely signed with either Sony Corp. (NYSE: SNE), to stream on its PlayStation 3 game console, or with Nintendo Ltd. (OTC: NTDOY) on its Wii platform.

In a research note Friday, UBS Analyst Brian Fitzgerald told investors to expect a fourth-quarter launch of another gaming console. Fitzgerald also raised his price target on the stock to $50 from $47, but maintained a Neutral rating. Several other analysts offered bullish comments but maintained their ratings as well.

Whichever company it is, the new partner is one large enough to give the company confidence to raise fourth-quarter earnings guidance due to lower costs associated with acquiring new subscribers. Shares of Netflix ended Friday's trading session at $54.89 a share, up 10.6% on the day, and up a whopping 84% for the year. By contrast, shares of Blockbuster fell nearly 4% Friday to close at $1.02 a share. Stock in Blockbuster is down 19% year-to-date.

Speaking Thursday, the Netflix CEO mentioned a number other reasons for investors to be bullish on the stock. Its subscriber numbers grew by 28% in the third quarter compared to a year, driven by demand for a $8.99 a month subscription plan that gives consumers unlimited streaming and unlimited DVD rentals. In a recessionary economy, that's a price that speaks to penny-pinching households. It's also one reason Netflix was able to report a 24% increase in quarterly revenue year-over-year to $423 million.

Hastings noted that of the 115 million estimated households in America, 9.6% now subscribe to Netflix. In the greater San Francisco Bay Area, which the company believes is a leading indicator of internet behavior elsewhere in the country, 21.2% of households now subscribe to Netflix, up from 18.8% a year ago.

More subscribers are streaming video, too. Netflix said it witnessed a 145% increase in streamed video in the third quarter, compared to last year, and 42% of Netflix subscribers streamed at least 15 minutes of one TV episode or movie during the quarter.

And though it may seem DVDs are a technology that are on their way out, Hasting noted during his comments that he believes the company will be renting DVDs until 2030. That gives Netflix plenty of time to become the master of streaming video and to strike many more deals with device makers -- and for investors to jump on the Netflix bandwagon.