In an expansion move which will suprise many, online video streaming and DVD rental juggernaut Netflix are planning to become a production company for original TV programming, the first time that they have entered show production in the 14-year history of the company.

Reports suggest that Netflix have outbid numerous major cable networks, such as AMC and HBO for production rights to drama series House of Cards. Sold by Media Rights Capital, the upcoming series is to be directed by David Fincher, and stars Kevin Spacey, who is also executive producing.

While negotiations are ongong, the offer that seems set to be agreed on is that Netflix commit two two series of the drama, and a total of 26 episodes. It has also been suggested that the collective value of the deal would be around $100M (given current production costs per episode for top dramas), meaning that this is a very expensive risk for the untested Netflix, although it is likely that the series would also be streamed online by the company as a tie-in deal.

Experts claim that this move replicates the manner of which HBO moved into TV production, in that the companies have both first established themselves in a movie-related field (HBO screened films on their network), before making the production leap.

It could be a welcome respite from the day job for Netflix, who are seeing increasing levels of competition on their ‘home front’ from newcomers such as Amazon.com and even Facebook, who are currently experimenting movie streaming in association with Warner Bros by making The Dark Knight avaliable on the social media site.

Netflix had also been increasing their range of content online by making a $200M deal with CBS to have nonexclusive rights for many of the network’s hit scripted series, while also adding a collective $1B, five-year streaming deal for movies produced by Paramount, Lionsgate and MGM, with talks with the representitives of Disney and Sony ongoing.

On the new TV show in question for Netflix, David Fincher will also be directing a TV series for the first time, with the plot of House of Cards heavily based on the book, which is about British Parliament in the early 1990′s, and centres on a politician who wants to succeed the outgoing Margaret Thatcher.

The novel has already been on the TV screens before, though, when the BBC produced a mini-series in 1990. Fincher’s adaptation, though, will be re-written by Beau Willimon (writer), to be set in America, in order to appeal to a native audience.

Netflix have proven ability in streaming and rentals of movies, but will this switch to TV production see them out of their depth?

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