***CLARIFICATION Due to Netflix Streaming losing almost 2,000 streaming titles, Wednesday was dubbed “Streamageddon,” and in the course of the frenzy some misinformation was passed on, including by us. In a game of editorial telephone, we reported what Mashable reported regarding the fate of a number of a number Netflix’s titles:

Warner Archive Instant, a new service offering television and films for your streaming pleasure, will soon be the home for some of the films formerly found on Netflix.

Last night, Warner Archive sent Breitbart News the following statement:

The story currently relating Warner Archive Instant to Netflix title availability is inaccurate. Warner Archive Instant is not involved in Netflix’s business decisions and none of the titles that were pulled from Netflix yesterday are Warner Bros. owned. Further, Warner Archive Instant content is drawn solely from the Warner Bros Entertainment library and we are not streaming Universal, or MGM/ United Artists owned content on this site.

–JN

No sooner did Netflix insult a large group of its potential customers by bashing Sarah Palin than the streaming giant lost nearly 1,800 titles thanks to an expiring license deal.

The news comes on the heels of a new streaming competitor with a familiar name.

Warner Archive Instant, a new service offering television and films for your streaming pleasure, will soon be the home for some of the films formerly found on Netflix. Customers can pay $10 a month for the new Archive, a deal which currently gives them access to a whopping 222 titles (both TV and film).

The system currently offers both old-school kitsch–like The Beast with Five Fingers–and respectable fare like A Face in the Crowd, Klute and The Late Show.

We can assume Warner’s service will soon offer many more viewing choices, but it’s not the wisest movie to hit the market with so little to see and so much to pay.

Netflix’s sudden content deficit isn’t damaging, but it could be a sign of losses to come. Will the company aggressively sign deals for new titles, or will it watch other content aggregators cling to their material to fuel their own streaming schemes?

One thing appears certain. Consumers won’t be ponying up $10 a month to access content from a variety of specific studios. The beauty of Netflix is that it offers a wealth of viewing options for one modest price.

The streaming revolution continues, and there will be even more drama along the way.