While it won’t move the needle much on its content library, IFC Entertainment announced yesterday that it will offer 53 films through Netflix’s Watch Instantly streaming service, reports Variety.

True, that’s not a very large number, but it marks the first time IFC is providing its content to a subscription streaming service. Up until now, the company has placed films from its 300-title library on EST destinations like Amazon, iTunes and Blockbuster.

IFC titles heading to Netflix’s streaming service include Errol Morris’ The Thin Blue Line and John Sayles’ Return of the Secaucus Seven.

As we’ve written before, Netflix’s Achilles’ heel is its streaming content library. Though it has over 17,000 titles, it needs to make sure that service is robust enough so that the number of subscribers using the service keeps growing. Check out Om’s recent talk with Netflix CEO Reed Hastings at our recent NewTeeVee Live Conference for more on his company’s streaming efforts.

Separately, though we didn’t see anything official announced, it looks like Netflix also just got a whole boatload of Saturday Night Live content in this week, including seasons 1 – 5.

To learn more about streaming directly to TVs, check out the report on The Evolution of Over-the-Top Video over at our subscription research service, GigaOM Pro.

UPDATED: Babelgum is closing down its Dublin headquarters and an office in Nice, according to a report in paidContent, moves that could signal the end is near for the online video site.

Babelgum says the cuts will allow it to streamline its business to “ensure continued growth.” The company told paidContent that it will continue to develop applications from other locations, spreading the operations from its shuttered offices across those in London, Milan and New York. But there are questions as to whether Babelgum will continue to develop technology or keep focusing on content investment.

Babelgum is backed by deep-pocketed billionaire investor Silvio Scaglia; he invested €50 million ($73 milllion) in the company in 2008, and has said he plans to spend €40- €60 million annually on the company over the next 2-3 years. But the recent cuts could mean he’s losing patience while waiting for a return on that initial investment.

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