New Netflix NFLX, +3.70% rivals are popping up rapidly, but the streaming-video pioneer is ready to add some Hollywood glitz to ensure its subscribers stick around.

Netflix’s long-awaited move into original films will kick off Oct. 16, the company announced Tuesday, with a film written and directed by Cary Fukunaga that will debut in theaters and the company’s streaming service simultaneously. Fukunaga—who gained prominence by directing the first season of the HBO drama “True Detective”—adapted “Beasts of No Nation” from Nigerian author Uzodinma Iweala’s novel by the same name, which focuses on child soldiers in a fictional African conflict.

Netflix NFLX, +3.70% has been signing deals with prominent figures in Hollywood for feature films to augment its growing library of original content, which has centered on television series such as “House of Cards” and “Orange is the New Black,” along with documentaries and stand-up comedy. The Los Gatos, Calif., company’s four-film deal with comedian Adam Sandler will lead to the second original film on the lineup. “The Ridiculous Six,” a Western farce that will debut on the streaming service Dec. 11. In 2016, Netflix expect to debut a sequel to “Crouching Tiger, Hidden Dragon” in theaters and streaming during the first quarter, and a new Pee-Wee Herman movie, “Pee-Wee’s Big Holiday,” in March.

Netflix’s approach to delivering video content directly to consumers through online streaming instead of in a cable package appears to have caught on. In a note Tuesday morning, Raymond James analyst Justin Patterson noted that the majority of more than 400 consumers he surveyed in the second quarter either planned to cancel their cable subscription or were not cable customers.

Netflix’s success has helped prompt big changes in consumer habits, Patterson noted, while increasing his price target on the stock to $730 from $585.

“Comcast now has more internet subs than video, media companies are launching more stand-alone streaming services, and Netflix is now streaming over 10 billion hours of content per quarter,” the analyst wrote.

One of those new streaming service from a traditional TV powerhouse launched Tuesday. Showtime followed rival HBO in introducing a streaming service that stands alone from its pay-TV channel. The company’s service will cost $10.99 a month, and is initially available on Apple mobile devices and Apple TV; Roku streaming-media devices; Sony’s PlayStation Vue cloud-television offering; and as an addition to Hulu.

Showtime is owned by CBS Corp. US:CBS, which has already introduced a streaming service for other core properties, including its namesake broadcast network.