Netflix just got better on the iPhone with an update designed to take advantage of the larger 16:9 aspect ratio screen on the iPhone 5. This means that when watching many films streaming they fill the entire screen edge-to-edge, with no black borders or letterboxing.
Given the small size of the iPhone screen for movie watching, every millimeter counts. Netflix also optimized the searching and browsing screens to take advantage of the additional display real estate. This improved the process of looking for movie titles and getting information on the wide variety of content available to Netflix subscribers.
Seen here are examples of how the new Netflix app has been redesigned to take advantage of the iPhone 5 hardware and iOS 6. With streaming over LTE cellular data connections, speeds are improved as well.