After initially offering The Dark Knight to test the waters, Warner will be offering five more movies for streaming on Facebook including Harry Potter and the Sorcerer’s Stone, Harry Potter and the Chamber of Secrets, Inception, Life as We Know It and Yogi Bear.

United States viewers are able to pay for a 48-hour viewing window instantly in Facebook credits then enjoy it right on their Facebook. We aren’t sure why they think they can outdo iTunes and Netflix, but they are going to give it a try.

Can Facebook compete with Netflix when it comes to renting movies? Well, they are going to try. Warner Brothers has just announced that they will be offering video stream rentals of their movies through the online social network. Right now they have just one title available: The Dark Knight.

Users can rent a movie for 30 Facebook Credits ($3) and you get 48 hours to finish the movie. You can watch the movie through the site and still access Facebook functions while it is playing. More titles will arrive in the coming months, and The Dark Knight is just a test to see how popular it is.

If you recently jumped on the Blu-ray bandwagon, chances are you’ve got a bunch of DVDs that are pretty much useless now. Warner Bros. wants to help. The company is now offering a trade-in program called Red2Blu that allows people to trade in 25 Warner Bros. HD DVDs and have them replaced with Blu-ray versions.

The new program isn’t free though. It will cost you $4.95 per disc plus $6.95 for shipping on each DVD. Interestingly, you don’t have to send in the discs to the WB, you just need to send in the cover art for the HD DVD discs you want replaced.