Forget watching movies from Netflix and Hulu or on your new 60 inch flat-screen TV. The next hot spot for movie watching may just be none other than Facebook.

Warner Bros. is planning on allowing its Facebook friendly customers to rent and watch any of its movies from its official Page, according to USA Today. Though no one is really sure the technology behind the rentals at this time, consumers will be able to use Facebook Credits, the virtual currency the platform uses to buy goods or services, to watch, pause and rewind for 48 hours. Each rental will cost 30 credits, or $3. Not a bad price compared to the $5 plus with Cable or $15 a ticket at the local theater… cough, rip-off, cough, cough….

The entertainment industry, especially movie makers, have been trying to find new digital engagement channels to generate revenue. I can’t say I’m terribly surprised that Facebook is a target. With over 600 million subscribers spending around 14 minutes a day on Facebook, it makes for an ideal captive audience. Not to mention the fact that more and more Facebook users are dabbling in its credit currency.

The other issue is quality. I’m sure we’ve all had our experiences with less than stellar online movie watching, which may be the reason movie theaters still exist – people want clear, larger than life experiences.

What do you think? Would you watch a movie on Facebook?