Microsoft (NASDAQ:MSFT) may have introduced its new video game console on Tuesday as the ultimate entertainment hub, but Netflix (NASDAQ:NFLX) doesn't have anything to be worried about. 

Speculation picked up last year when Netflix CEO Reed Hastings announced that he was leaving Microsoft's board of directors. Was Microsoft buying Netflix? Was the new Xbox going to take on Netflix as a streaming video platform?

Well, Mr. Softy never warmed up to the leading video service -- and now the new Xbox One console doesn't seem to pose much of a threat. A Netflix icon was even featured on the home page of the initial presentation! 

In this video, longtime Fool contributor Rick Munarriz explores why Netflix may have more to gain than lose here.