Netflix founder Reed Hastings has pledged that the online film giant will look to break BSkyB's stranglehold on the movie market – but not until its new UK operation has become a success.

Hastings unveiled the new Netflix service – which will allow users to stream film and TV content on devices including tablets, smartphones, games consoles and internet TVs – priced at £5.99 a month.

Netflix's closest direct competitor is Amazon's LoveFilm, which has built a model offering DVDs by post and today announced a new "streaming-only" tariff at £4.99.

Hastings unveiled a host of new TV and film deals to sweeten its launch with partners including Channel 4, Disney, ITV, Sony, 20th Century Fox and "super indie" All3Media for titles including The Only Way is Essex, Breaking Bad, The Expendables and The Aviator.

Most of the deals Netflix has struck in the UK will allow it to air films in what is referred to as the second rights window; News Corporation has sewn up the prime deals with the six major Hollywood studios to air films in the first pay window.

Netflix, like LoveFilm, has not attempted to break BSkyB's relationship with the Hollywood studios, which is currently the subject of an investigation by competition regulators.

Hastings argues that Netflix's low-cost model is complementary to BSkyB's premium offering, but says when the company establishes itself in the UK, Rupert Murdoch is likely to see some stiff competition in the movie rights market.

"Is it likely we will become a bidder against Sky over the years? Absolutely," he said. "We will definitely be a bidder against Sky, yes, but do we need it at launch, no."

He notes that when Netflix launched in Canada – what Hastings refers to as the "closest proxy" to what he expects to see in the UK market – the company was in a similar position of having no "pay one [window]" deals.

"Everyone is going to welcome some competition for Sky," said Hastings. "The major studios are always going to look for who is out there when buyers are in the market."

Netflix has informed investors that the huge financial commitment to the launch is partly to blame for the forecast of a company loss for 2012, with the timeline for reaching profitability in the tough UK market potentially more than two years.