Lovefilm, which has traditionally focused on renting out DVD via mail order has strengthened its board as it transforms its business model to digital downloading.
Kristian Segerstrale, chief executive of social network game publisher Playfish, and Roland Steindorf, the former head of Kabel Deutschland, have both been appointed as non-executive directors.
The move follows the recent appointment of Simon Waldman as head of Lovefilm’s DVD rental subscription service.
There is also speculation that the company is preparing to float on the stock market with a likely valuation of around £200m.
As an alternative to an IPO, Lovefilm is also believed to be considering a trade sale.
If Amazon decides to sell its 32 per cent stake in Lovefilm, Netflix, the US-based DVD rental and streaming company is expected to be one of the main contenders.
Lovefilm recently secured a deal to show MGM’s back catalogue of films online.