Microsoft announced a new initiative today for Xbox Live users called “Xbox LIVE Film Club” that will deliver new movies to members prior to their actual theatrical release.

While all of the specific details appear to yet be sorted out, what we do know is that the goal of the Xbox Live Film Club will be to deliver sneak previews prior to release. We also know that some of the movies will be sneak previews of films that are slated or under consideration for release on Xbox Live.

Membership in the Xbox LIVE Film Club will be limited and from what we can tell, does not include those users living in North America.